NGAM Advisors L.P. decreased its stake in Dycom Industries, Inc. (NYSE:DY) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 184,566 shares of the construction company’s stock after selling 1,144 shares during the period. NGAM Advisors L.P. owned 0.59% of Dycom Industries worth $16,522,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Acrospire Investment Management LLC purchased a new position in Dycom Industries during the first quarter worth approximately $121,000. GW&K Investment Management LLC purchased a new position in Dycom Industries during the second quarter worth approximately $2,988,000. Thrivent Financial for Lutherans raised its position in Dycom Industries by 9.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,380 shares of the construction company’s stock worth $432,000 after buying an additional 460 shares during the period. EULAV Asset Management purchased a new position in Dycom Industries during the first quarter worth approximately $1,162,000. Finally, Norges Bank purchased a new position in Dycom Industries during the fourth quarter worth approximately $12,808,000.
Shares of Dycom Industries, Inc. (DY) opened at 79.97 on Friday. Dycom Industries, Inc. has a one year low of $70.33 and a one year high of $110.64. The stock has a market cap of $2.49 billion, a PE ratio of 15.73 and a beta of 1.18. The firm has a 50-day moving average of $87.67 and a 200-day moving average of $91.71.
Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, May 24th. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.11. The business had revenue of $786.30 million for the quarter, compared to analysts’ expectations of $736.20 million. Dycom Industries had a net margin of 5.30% and a return on equity of 28.96%. The business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 earnings per share. On average, equities research analysts expect that Dycom Industries, Inc. will post $5.23 earnings per share for the current fiscal year.
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DY has been the subject of a number of research analyst reports. ValuEngine raised shares of Dycom Industries from a “hold” rating to a “buy” rating in a report on Thursday, May 25th. Zacks Investment Research downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. Stifel Nicolaus reissued a “buy” rating and issued a $120.00 price target (up from $112.00) on shares of Dycom Industries in a research note on Saturday, April 22nd. Canaccord Genuity reissued a “buy” rating and issued a $52.00 price target on shares of Dycom Industries in a research note on Thursday, May 25th. Finally, FBR & Co reaffirmed an “outperform” rating on shares of Dycom Industries in a research note on Monday, June 19th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Dycom Industries currently has a consensus rating of “Buy” and a consensus price target of $102.09.
Dycom Industries Company Profile
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
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