12th Street Asset Management Company LLC Invests $4.14 Million in Dycom Industries, Inc. (NYSE:DY)

Key Points

• 12th Street Asset Management Company LLC acquired 27,199 shares of Dycom Industries, valued around $4.14 million, making it the fund's 26th largest position.
• Dycom Industries reported earnings of $2.09 per share, exceeding analysts' expectations of $1.62, with quarterly revenue reaching $1.26 billion, a 10.2% increase year-over-year.
• A majority of analysts have a positive outlook on Dycom Industries, with eight rating it as a "buy" and raising price targets, with the consensus target at $259.00.

12th Street Asset Management Company LLC acquired a new stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 27,199 shares of the construction company's stock, valued at approximately $4,143,000. Dycom Industries makes up 0.7% of 12th Street Asset Management Company LLC's investment portfolio, making the stock its 26th biggest position. 12th Street Asset Management Company LLC owned 0.09% of Dycom Industries as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc bought a new position in Dycom Industries in the 1st quarter worth approximately $28,000. GeoWealth Management LLC raised its position in Dycom Industries by 35.9% in the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock worth $61,000 after purchasing an additional 92 shares during the last quarter. Anchor Investment Management LLC raised its position in Dycom Industries by 37.5% in the 4th quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock worth $64,000 after purchasing an additional 100 shares during the last quarter. Federated Hermes Inc. raised its position in Dycom Industries by 107.0% in the 4th quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock worth $67,000 after purchasing an additional 200 shares during the last quarter. Finally, Archer Investment Corp bought a new position in Dycom Industries in the 1st quarter worth approximately $99,000. 98.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on DY. Wells Fargo & Company upped their target price on shares of Dycom Industries from $215.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. B. Riley upped their target price on shares of Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Raymond James Financial boosted their price target on shares of Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a report on Thursday, May 22nd. Wall Street Zen raised shares of Dycom Industries from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, KeyCorp boosted their price target on shares of Dycom Industries from $255.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Dycom Industries presently has a consensus rating of "Buy" and a consensus target price of $259.00.

Dycom Industries Stock Performance

Shares of DY stock traded down $0.08 on Monday, reaching $263.21. The stock had a trading volume of 57,250 shares, compared to its average volume of 435,826. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.80. The firm's 50-day moving average is $245.06 and its two-hundred day moving average is $196.91. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 33.41, a P/E/G ratio of 1.50 and a beta of 1.34. Dycom Industries, Inc. has a 12 month low of $131.37 and a 12 month high of $271.80.

Dycom Industries (NYSE:DY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.47. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. Dycom Industries had a net margin of 4.81% and a return on equity of 20.04%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $2.12 earnings per share. On average, research analysts expect that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

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.