Somerset Trust Co Increases Position in Dycom Industries, Inc. (NYSE:DY)

Somerset Trust Co raised its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 28.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,949 shares of the construction company's stock after buying an additional 1,320 shares during the period. Somerset Trust Co's holdings in Dycom Industries were worth $906,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Corient Private Wealth LLC raised its stake in shares of Dycom Industries by 0.8% during the fourth quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company's stock valued at $1,221,000 after acquiring an additional 55 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of Dycom Industries by 11.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company's stock valued at $98,000 after acquiring an additional 56 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Dycom Industries by 0.8% during the fourth quarter. Arizona State Retirement System now owns 8,447 shares of the construction company's stock valued at $1,470,000 after acquiring an additional 70 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake 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 valued at $59,000 after acquiring an additional 71 shares in the last quarter. Finally, Ironwood Investment Management LLC raised its stake in shares of Dycom Industries by 0.6% during the fourth quarter. Ironwood Investment Management LLC now owns 14,795 shares of the construction company's stock valued at $2,575,000 after acquiring an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Stock Down 0.6%

NYSE DY traded down $1.31 on Monday, hitting $228.62. The stock had a trading volume of 313,001 shares, compared to its average volume of 414,579. The business's fifty day moving average price is $175.29 and its 200 day moving average price is $176.17. 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, Inc. has a 52-week low of $131.37 and a 52-week high of $230.57. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27.

Dycom Industries (NYSE:DY - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $2.12 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts anticipate that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DY. Wall Street Zen downgraded shares of Dycom Industries from a "buy" rating to a "hold" rating in a research note on Friday. 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 report on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price objective 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. Raymond James lifted their price objective 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. Finally, DA Davidson lifted their price objective on shares of Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $241.25.

Dycom Industries 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.