GAMMA Investing LLC Raises Holdings in Dycom Industries, Inc. (NYSE:DY)

GAMMA Investing LLC increased its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 14,170.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,651 shares of the construction company's stock after buying an additional 58,240 shares during the quarter. GAMMA Investing LLC owned about 0.20% of Dycom Industries worth $8,935,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc bought a new stake in shares of Dycom Industries during the first quarter worth $28,000. EverSource Wealth Advisors LLC lifted its position in shares of Dycom Industries by 26.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after purchasing an additional 71 shares during the last quarter. GeoWealth Management LLC lifted its position in shares of Dycom Industries by 35.9% during the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock worth $61,000 after purchasing an additional 92 shares during the last quarter. Anchor Investment Management LLC lifted its position in shares of Dycom Industries by 37.5% during the fourth quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock worth $64,000 after purchasing an additional 100 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Dycom Industries by 107.0% during the fourth quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock worth $67,000 after purchasing an additional 200 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DY shares. DA Davidson lifted their target price on Dycom Industries from $220.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. UBS Group lifted their target price on Dycom Industries from $234.00 to $258.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. B. Riley lifted their target price on Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Wells Fargo & Company lifted their target price on Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Finally, Wall Street Zen downgraded Dycom Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $241.25.

Dycom Industries Stock Up 1.3%

DY traded up $3.13 on Wednesday, hitting $236.46. The company had a trading volume of 336,049 shares, compared to its average volume of 419,232. The stock has a fifty day moving average price of $188.72 and a 200-day moving average price of $179.01. Dycom Industries, Inc. has a 12-month low of $131.37 and a 12-month high of $243.38. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 1.29 and a beta of 1.32.

Dycom Industries (NYSE:DY - Get Free Report) last posted its earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm earned $2.12 earnings per share. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. Analysts predict that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Dycom Industries announced that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs 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.