Peconic Partners LLC is a specialty investment firm that focuses on maximizing returns for its clients. The firm applies a hands-on approach on its activities and works to mitigate risks in all its investments. Peconic Partners LLC submitted its SEC 13F filings for the third quarter ended September 30, 2014, showing that Quanta Services Inc (NYSE:PWR), Dycom Industries, Inc. (NYSE:DY), and MasTec, Inc. (NYSE:MTZ) were its biggest holdings for the period.
On top of the list of Peconic Partners LLC investments was Quanta Services Inc (NYSE:PWR), which accounted for investment totaling to $135.36 million. Quanta Services Inc (NYSE:PWR) is a company that offers outsourced engineering, construction and maintenance services for a wide range of industries that include telecommunications and gas pipeline industries. Peconic Partners LLC had the highest number of shares of the company among funds, with 3.73 million shares. Point72 Asset Management was second with 1.44 million shares. (You can see complete list of hedge funds which hold positions on Quanta Services Inc (NYSE:PWR) at the end of third quarter.)
Dycom Industries, Inc. (NYSE:DY) came second on the list with investment worth $71.09 million. Dycom Industries, Inc. (NYSE:DY) is a specialized company and a leading provider of contracting services to the telecommunications and infrastructure industry in both the U.S. and Canada. The company’s first quarter report for the fiscal year 2015 indicated that it earned $20.8 million in net income, translating to 59 cents on a per share basis. This was 10 cents above Wall Street expectations of 49 cents. Dycom Industries, Inc. (NYSE:DY) carries out a number of operations through its subsidiaries such as UtiliQuest LLC, Lamberts Cable Splicing Co LLC, Star Construction LLC, just to mention a few.
MasTec, Inc. (NYSE:MTZ) was the third largest investment of Peconic Partners LLC with investment valued at $66.27 million. MasTec, Inc. (NYSE:MTZ) is a multinational renewable infrastructure engineering and construction company whose works allow for efficient transmission and distribution of oil, gas, electricity, and more. The company’s power generation unit experienced growth in its third quarter to steer the stock to 3.2% increase in revenue. MasTec, Inc. (NYSE:MTZ) reported $1.31 billion in revenue, compared to $1.27 billion for the same period last year.
This article has been written by Victor Ochieng.