Callahan Advisors LLC increased its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 14.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,926 shares of the construction company's stock after buying an additional 4,478 shares during the period. Callahan Advisors LLC owned about 0.12% of Dycom Industries worth $5,473,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Alyeska Investment Group L.P. acquired a new position in shares of Dycom Industries during the fourth quarter valued at $80,584,000. Norges Bank acquired a new stake in Dycom Industries in the fourth quarter worth about $55,802,000. Assenagon Asset Management S.A. lifted its holdings in 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 purchasing an additional 305,755 shares during the period. First Trust Advisors LP lifted its holdings in Dycom Industries by 142.9% in the fourth 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 period. Finally, Point72 Asset Management L.P. lifted its holdings in Dycom Industries by 261.6% in the fourth quarter. Point72 Asset Management L.P. now owns 224,277 shares of the construction company's stock worth $39,038,000 after purchasing an additional 162,262 shares during the period. Institutional investors own 98.33% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. B. Riley upped their price objective on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Wells Fargo & Company upped their price objective on shares of Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Wall Street Zen raised shares of Dycom Industries from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Raymond James Financial upped 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. Finally, UBS Group upped their price target on shares of Dycom Industries from $258.00 to $288.00 and gave the company a "buy" rating in a report on Thursday. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $245.00.
Read Our Latest Report on Dycom Industries
Dycom Industries Trading Up 0.7%
NYSE DY traded up $1.69 on Monday, hitting $254.09. 122,732 shares of the company were exchanged, compared to its average volume of 424,251. The company's 50 day moving average price is $226.01 and its 200-day moving average price is $188.41. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.89 and a quick ratio of 2.68. The firm has a market capitalization of $7.35 billion, a P/E ratio of 32.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $255.88.
Dycom Industries (NYSE:DY - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $1.19 billion. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.12 EPS. Analysts predict that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.
Dycom Industries Profile
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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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