Castleark Management LLC Sells 14,790 Shares of Dycom Industries, Inc. (NYSE:DY)

Castleark Management LLC trimmed its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 40.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,090 shares of the construction company's stock after selling 14,790 shares during the period. Castleark Management LLC owned about 0.08% of Dycom Industries worth $3,845,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Dycom Industries by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 659,190 shares of the construction company's stock worth $114,765,000 after acquiring an additional 8,307 shares during the last quarter. First Trust Advisors LP boosted 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 valued at $86,405,000 after purchasing an additional 292,050 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Dycom Industries in the fourth quarter valued at approximately $80,584,000. Norges Bank purchased a new position in Dycom Industries during the 4th quarter worth $55,802,000. Finally, Northern Trust Corp boosted its stake in shares of Dycom Industries by 8.7% during the fourth quarter. Northern Trust Corp now owns 320,481 shares of the construction company's stock worth $55,783,000 after buying an additional 25,571 shares during the period. Hedge funds and other institutional investors own 98.33% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DY shares. JPMorgan Chase & Co. increased their price target on shares of Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Wells Fargo & Company increased their target price on Dycom Industries from $215.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday. B. Riley upped their price objective on Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a research note on Friday. Raymond James increased their target price 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. Finally, KeyCorp cut their price objective on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $241.25.

Dycom Industries Stock Performance

Shares of DY traded up $2.29 during trading hours on Tuesday, hitting $227.49. The company had a trading volume of 197,774 shares, compared to its average volume of 414,370. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 1.29 and a beta of 1.27. The business has a fifty day moving average of $169.80 and a 200-day moving average of $175.05. Dycom Industries, Inc. has a 12 month low of $131.37 and a 12 month high of $233.72.

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 for the quarter, topping the consensus estimate of $1.62 by $0.47. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. The business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the business posted $2.12 earnings per share. Dycom Industries's revenue was up 10.2% compared to the same quarter last year. Equities analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Dycom Industries declared that its board has initiated a stock buyback plan on Wednesday, February 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

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.