CenterBook Partners LP acquired a new position in Dycom Industries, Inc. (NYSE:DY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,907 shares of the construction company's stock, valued at approximately $1,052,000.
Several other large investors have also recently made changes to their positions in the stock. First Trust Advisors LP grew its holdings in shares of Dycom Industries by 142.9% during the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock valued at $86,405,000 after buying an additional 292,050 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Dycom Industries by 851.6% in 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 during the period. Alyeska Investment Group L.P. purchased a new stake in Dycom Industries during the fourth quarter worth $80,584,000. Assenagon Asset Management S.A. raised its stake in shares of Dycom Industries by 327.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company's stock worth $60,818,000 after buying an additional 305,755 shares during the period. Finally, Northern Trust Corp boosted its holdings in Dycom Industries by 8.7% in the 4th 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 last quarter. 98.33% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on DY. B. Riley raised their target price on Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Raymond James Financial boosted their target price 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. Wall Street Zen upgraded shares of Dycom Industries from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Wells Fargo & Company upped their price objective on Dycom Industries from $215.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. upped their price target on Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Dycom Industries has a consensus rating of "Buy" and a consensus price target of $259.00.
Check Out Our Latest Research Report on DY
Dycom Industries Stock Performance
Shares of DY opened at $276.05 on Friday. The stock has a 50-day simple moving average of $248.43 and a 200-day simple moving average of $199.00. The stock has a market capitalization of $7.98 billion, a PE ratio of 34.99, a PEG ratio of 1.54 and a beta of 1.34. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $276.50. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.68 and a current ratio of 2.89.
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, beating the consensus estimate of $1.62 by $0.47. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. 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 earned $2.12 earnings per share. The company's revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.
Dycom Industries Profile
(
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.
See Also
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