Industrial Sector Ideas

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Quanta Services, Inc. (NYSE:PWR) - >>> Navellier & Associates’ Stake Value: $10 million


https://finance.yahoo.com/news/louis-navellier-top-10-stock-160351252.html


Percentage of Navellier & Associates’ 13F Portfolio: 2.23%

Number of Hedge Fund Holders: 47

Quanta Services, Inc. (NYSE:PWR) is an American contracting services corporation that provides infrastructure services for electric power, pipeline, industrial and communications industries. Louis Navellier's hedge fund owned a $10 million stake in Quanta Services, Inc. (NYSE:PWR) as part of its portfolio for the third quarter of this year. The stake came through the fund owning 78,928 shares of the company, and it represented 2.23% of its investment portfolio.

On November 8, KeyBanc analyst Sean Eastman raised the price target on Quanta Services, Inc. (NYSE:PWR) to $174 from $156 alongside an Overweight rating on the company's shares based on what he calls greater confidence in the multiyear, mid-teens EPS growth algorithm.

Insider Monkey’s Q3 2022 920 hedge fund survey outlined that 47 funds had invested in the firm, a jump from just 34 in the previous quarter. William Harnisch's Peconic Partners LLC is the company's largest shareholder for the quarter, with approximately 5.53 million shares worth $1.3 billion.

Similar to NVIDIA Corporation (NASDAQ:NVDA), Costco Wholesale Corporation (NASDAQ:COST), CF Industries Holdings, Inc. (NYSE:CF), and ConocoPhillips (NYSE:COP), Quanta Services, Inc. (NYSE:PWR) is one of Louis Navellier's top stock picks.

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