Bailard Inc. Acquires New Stake in Dycom Industries, Inc. (NYSE:DY)

Bailard Inc. acquired a new position in 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 3,400 shares of the construction company's stock, valued at approximately $518,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DY. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Dycom Industries by 851.6% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company's stock valued at $72,459,000 after acquiring an additional 425,652 shares in the last quarter. Rice Hall James & Associates LLC grew its holdings in Dycom Industries by 21.9% during the first quarter. Rice Hall James & Associates LLC now owns 19,847 shares of the construction company's stock worth $3,023,000 after buying an additional 3,564 shares in the last quarter. Prudent Man Advisors LLC bought a new stake in Dycom Industries during the first quarter worth $207,000. CWM LLC boosted its position in Dycom Industries by 40.7% in the first quarter. CWM LLC now owns 785 shares of the construction company's stock worth $120,000 after purchasing an additional 227 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Dycom Industries by 30.8% in the first quarter. New York State Common Retirement Fund now owns 81,052 shares of the construction company's stock worth $12,347,000 after purchasing an additional 19,107 shares during the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Stock Performance

Shares of NYSE:DY traded up $0.20 during midday trading on Friday, reaching $256.55. 287,024 shares of the company traded hands, compared to its average volume of 424,034. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.80. Dycom Industries, Inc. has a 12 month low of $131.37 and a 12 month high of $258.02. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 1.46 and a beta of 1.32. The firm's fifty day moving average price is $232.92 and its two-hundred day moving average price is $191.08.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.62 by $0.47. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates 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 was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.12 EPS. On average, equities analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DY. 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 research report on Thursday, May 22nd. Wall Street Zen raised Dycom Industries from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. UBS Group upped their price target on Dycom Industries from $258.00 to $288.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Wells Fargo & Company upped their price target on Dycom Industries from $215.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Finally, DA Davidson boosted their price objective on Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $259.00.

Dycom Industries Company Profile

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.