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

Castleark Management LLC decreased its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 40.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,090 shares of the construction company's stock after selling 14,790 shares during the quarter. Castleark Management LLC owned 0.08% of Dycom Industries worth $3,845,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Dycom Industries by 22.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,741 shares of the construction company's stock valued at $11,269,000 after purchasing an additional 11,798 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Dycom Industries by 785.7% during the 4th quarter. Squarepoint Ops LLC now owns 33,685 shares of the construction company's stock valued at $5,863,000 after purchasing an additional 29,882 shares during the last quarter. Tidal Investments LLC increased its position in shares of Dycom Industries by 17.2% during the 4th quarter. Tidal Investments LLC now owns 15,125 shares of the construction company's stock valued at $2,633,000 after purchasing an additional 2,219 shares during the last quarter. State of Wyoming increased its position in shares of Dycom Industries by 10.0% during the 4th quarter. State of Wyoming now owns 15,974 shares of the construction company's stock valued at $2,780,000 after purchasing an additional 1,454 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Dycom Industries during the 4th quarter valued at about $304,000. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Stock Performance

Dycom Industries stock traded up $1.76 during midday trading on Friday, hitting $225.97. The stock had a trading volume of 793,240 shares, compared to its average volume of 415,188. The firm's fifty day moving average is $168.44 and its two-hundred day moving average is $174.82. The company has a market capitalization of $6.50 billion, a PE ratio of 29.73, a P/E/G ratio of 1.29 and a beta of 1.27. Dycom Industries, Inc. has a 52-week low of $131.37 and a 52-week high of $228.66. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89.

Dycom Industries (NYSE:DY - Get Free Report) last posted its quarterly earnings results 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 return on equity of 20.99% and a net margin of 4.91%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the company posted $2.12 EPS. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts forecast that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Dycom Industries declared that its board has authorized a stock buyback program on Wednesday, February 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. DA Davidson upped their price target on shares of Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a research report on Friday. B. Riley upped their price target on shares of Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on shares of Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday. Wells Fargo & Company increased their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Finally, Raymond James increased their target price on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a report on Thursday. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Dycom Industries currently has a consensus rating of "Buy" and a consensus price target of $236.88.

About Dycom Industries

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.