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Arrowpoint Investment Partners Singapore Pte. Ltd. Buys 3,890 Shares of Dycom Industries, Inc. (NYSE:DY)

Dycom Industries logo with Construction background

Key Points

  • Arrowpoint Investment Partners Singapore Pte. Ltd. increased its holdings in Dycom Industries by 3,536.4% in the first quarter, bringing the total shares owned to 4,000, valued at approximately $609,000.
  • Dycom Industries reported earnings of $2.09 EPS for its last quarter, exceeding estimates by $0.47 and achieving a 10.2% revenue increase compared to the previous year.
  • Analysts have recently boosted price targets for Dycom Industries, with projections ranging from $250 to $265, reflecting a generally positive outlook on the stock.
  • Want stock alerts on Dycom Industries? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Arrowpoint Investment Partners Singapore Pte. Ltd. increased its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 3,536.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,000 shares of the construction company's stock after buying an additional 3,890 shares during the quarter. Arrowpoint Investment Partners Singapore Pte. Ltd.'s holdings in Dycom Industries were worth $609,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of DY. Alyeska Investment Group L.P. acquired a new stake in shares of Dycom Industries during the fourth quarter worth $80,584,000. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Dycom Industries by 851.6% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company's stock worth $72,459,000 after buying an additional 425,652 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Dycom Industries by 327.1% in the first quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company's stock worth $60,818,000 after buying an additional 305,755 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Dycom Industries by 142.9% during the 4th quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock worth $86,405,000 after purchasing an additional 292,050 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Dycom Industries by 261.6% during the fourth quarter. Point72 Asset Management L.P. now owns 224,277 shares of the construction company's stock valued at $39,038,000 after acquiring an additional 162,262 shares during the period. Institutional investors and hedge funds own 98.33% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on DY. JPMorgan Chase & Co. increased their price objective on Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. KeyCorp lifted their price target on Dycom Industries from $255.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Raymond James Financial boosted their price objective on Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 22nd. UBS Group boosted their price target on Dycom Industries from $258.00 to $288.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Finally, Wells Fargo & Company boosted their price objective 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. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Dycom Industries presently has a consensus rating of "Buy" and a consensus price target of $259.00.

Get Our Latest Stock Report on DY

Dycom Industries Price Performance

Shares of DY stock traded down $0.51 during trading on Friday, hitting $267.45. The company had a trading volume of 524,238 shares, compared to its average volume of 433,126. 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 stock's 50-day moving average is $252.61 and its two-hundred day moving average is $201.95. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 1.56 and a beta of 1.34. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $285.64.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.19 billion. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $2.12 earnings per share. As a group, analysts predict that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Dycom Industries Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Dycom Industries (NYSE:DY)

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