Balyasny Asset Management L.P. Has $474,000 Holdings in Dycom Industries, Inc. (NYSE:DY)

Balyasny Asset Management L.P. reduced its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 98.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,725 shares of the construction company's stock after selling 144,179 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Dycom Industries were worth $474,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DY. EverSource Wealth Advisors LLC lifted its holdings in shares of Dycom Industries by 26.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after acquiring an additional 71 shares during the last quarter. GeoWealth Management LLC boosted its holdings in shares of Dycom Industries by 35.9% in the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock valued at $61,000 after buying an additional 92 shares in the last quarter. Anchor Investment Management LLC boosted its holdings in shares of Dycom Industries by 37.5% in the 4th quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock valued at $64,000 after buying an additional 100 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Dycom Industries by 107.0% in the 4th quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock valued at $67,000 after buying an additional 200 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Dycom Industries by 34.7% during the 4th quarter. First Horizon Advisors Inc. now owns 392 shares of the construction company's stock worth $68,000 after purchasing an additional 101 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Stock Up 16.8%

Shares of NYSE DY traded up $32.55 during trading on Wednesday, reaching $226.17. 401,867 shares of the stock were exchanged, compared to its average volume of 410,724. The business's 50-day moving average price is $164.35 and its 200 day moving average price is $173.88. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $227.03. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27.

Dycom Industries (NYSE:DY - Get Free Report) last announced its earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.47. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. During the same period last year, the firm posted $2.12 earnings per share. The firm's revenue was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Dycom Industries announced that its board has initiated a share buyback plan on Wednesday, February 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Monday. Raymond James raised their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, February 4th. KeyCorp reduced their target price on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. B. Riley lowered their price target on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Dycom Industries in a research report on Monday, April 21st. They issued an "overweight" rating and a $200.00 target price on the stock. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Dycom Industries presently has a consensus rating of "Buy" and a consensus price target of $201.89.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.