Blueshift Asset Management LLC Takes Position in Dycom Industries, Inc. (NYSE:DY)

Key Points

• Blueshift Asset Management LLC recently invested $320,000 in Dycom Industries by acquiring 2,102 shares, marking a new position as of the first quarter.
• Dycom Industries reported $2.09 earnings per share for the last quarter, surpassing analysts' expectations of $1.62, with a revenue of $1.26 billion, above the forecasted $1.19 billion.
• Analysts have maintained a positive outlook, with all but one rating the stock as "Buy" or above, and the consensus target price set at $259.00.

Blueshift Asset Management LLC acquired a new position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,102 shares of the construction company's stock, valued at approximately $320,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new position in shares of Dycom Industries in the 1st quarter valued at about $28,000. GeoWealth Management LLC boosted its stake 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 purchasing an additional 92 shares during the last quarter. Anchor Investment Management LLC boosted its stake 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 purchasing an additional 100 shares during the last quarter. Federated Hermes Inc. boosted its stake 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 purchasing an additional 200 shares during the last quarter. Finally, Archer Investment Corp bought a new position in shares of Dycom Industries in the 1st quarter valued at about $99,000. Institutional investors own 98.33% of the company's stock.

Dycom Industries Stock Up 1.4%

DY traded up $3.71 during trading on Thursday, reaching $274.61. 9,071 shares of the stock were exchanged, compared to its average volume of 430,724. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.68 and a current ratio of 2.89. The stock's 50 day moving average price is $247.48 and its two-hundred day moving average price is $198.41. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $274.45. The stock has a market cap of $7.94 billion, a P/E ratio of 34.85, a price-to-earnings-growth ratio of 1.53 and a beta of 1.34.

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. The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. Dycom Industries had a net margin of 4.81% and a return on equity of 20.04%. Dycom Industries's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.12 earnings per share. Equities analysts expect that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Wall Street Analysts Forecast Growth

DY has been the topic of several recent research reports. Wall Street Zen raised shares of Dycom Industries from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Wells Fargo & Company lifted their price objective on shares of Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. JPMorgan Chase & Co. lifted their price objective on shares of Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. KeyCorp lifted their price objective on shares of Dycom Industries from $255.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Raymond James Financial lifted their price objective on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 22nd. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average 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.