Deutsche Bank AG Grows Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

Deutsche Bank AG lifted its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 48.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,294 shares of the construction company's stock after acquiring an additional 8,287 shares during the period. Deutsche Bank AG owned 0.09% of Dycom Industries worth $4,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in DY. EverSource Wealth Advisors LLC increased its position in shares of Dycom Industries by 26.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock valued at $59,000 after acquiring an additional 71 shares during the period. GeoWealth Management LLC boosted its holdings in Dycom Industries by 35.9% in the fourth 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 holdings in Dycom Industries by 37.5% in the fourth 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 holdings in Dycom Industries by 107.0% in the fourth 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, First Horizon Advisors Inc. boosted its holdings in Dycom Industries by 34.7% in the fourth quarter. First Horizon Advisors Inc. now owns 392 shares of the construction company's stock valued at $68,000 after purchasing an additional 101 shares during the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Price Performance

Dycom Industries stock traded down $0.02 during midday trading on Thursday, reaching $224.11. The company had a trading volume of 690,736 shares, compared to its average volume of 414,476. The company has a market capitalization of $6.45 billion, a P/E ratio of 29.49, a P/E/G ratio of 1.29 and a beta of 1.27. Dycom Industries, Inc. has a 12-month low of $131.37 and a 12-month high of $228.66. The firm's fifty day simple moving average is $167.05 and its 200-day simple moving average is $174.56. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93.

Dycom Industries (NYSE:DY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.47. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company posted $2.12 EPS. Dycom Industries's quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. B. Riley lowered their price target on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. UBS Group upped their price target on shares of Dycom Industries from $234.00 to $258.00 and gave the company a "buy" rating in a report on Thursday. KeyCorp lowered their price target on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Raymond James 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. Finally, Wells Fargo & Company upped their price target on shares of Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Monday. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $218.33.

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.