UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 11,798 Shares of Dycom Industries, Inc. (NYSE:DY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 22.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,741 shares of the construction company's stock after purchasing an additional 11,798 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.22% of Dycom Industries worth $11,269,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Squarepoint Ops LLC grew its holdings in shares of Dycom Industries by 785.7% in the 4th quarter. Squarepoint Ops LLC now owns 33,685 shares of the construction company's stock worth $5,863,000 after acquiring an additional 29,882 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Dycom Industries by 17.2% in 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 period. State of Wyoming increased its stake in Dycom Industries by 10.0% in the 4th quarter. State of Wyoming now owns 15,974 shares of the construction company's stock worth $2,780,000 after purchasing an additional 1,454 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in Dycom Industries during the 4th quarter worth about $304,000. Finally, SIR Capital Management L.P. acquired a new stake in Dycom Industries during the 4th quarter worth about $3,616,000. Institutional investors and hedge funds own 98.33% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on DY. B. Riley lifted their target price on shares of 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 raised their price objective on shares of Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. KeyCorp lowered their price objective on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Finally, UBS Group raised 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. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $241.25.

Dycom Industries Stock Up 2.3%

Shares of NYSE:DY traded up $5.19 during trading on Tuesday, reaching $233.81. 171,653 shares of the company traded hands, compared to its average volume of 413,712. The firm has a fifty day simple moving average of $176.71 and a 200 day simple moving average of $176.46. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $234.40. The firm has a market cap of $6.76 billion, a P/E ratio of 30.76, 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 data on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.47. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the firm earned $2.12 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. Analysts anticipate that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Dycom Industries declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 3.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

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.