BNP Paribas Financial Markets Lowers Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

BNP Paribas Financial Markets reduced its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 37.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,805 shares of the construction company's stock after selling 5,954 shares during the period. BNP Paribas Financial Markets' holdings in Dycom Industries were worth $1,707,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of DY. EverSource Wealth Advisors LLC grew its stake 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 worth $59,000 after buying an additional 71 shares in the last quarter. GeoWealth Management LLC grew its stake in shares of Dycom Industries by 35.9% in the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock worth $61,000 after buying an additional 92 shares in the last quarter. Anchor Investment Management LLC grew its stake in shares of Dycom Industries by 37.5% in the 4th quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock worth $64,000 after buying an additional 100 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Dycom Industries by 107.0% in the 4th quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock worth $67,000 after buying an additional 200 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Dycom Industries by 209.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company's stock worth $68,000 after buying an additional 264 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on DY. B. Riley lifted their price objective on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday. DA Davidson lifted their price objective on shares of Dycom Industries from $220.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Monday. UBS Group lifted their price target on shares of Dycom Industries from $234.00 to $258.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, KeyCorp dropped their price target on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Dycom Industries presently has a consensus rating of "Buy" and a consensus price target of $231.67.

Dycom Industries Trading Up 0.8%

Shares of DY stock traded up $1.76 during trading hours on Friday, reaching $225.97. 793,240 shares of the stock were exchanged, compared to its average volume of 415,565. Dycom Industries, Inc. has a 12-month low of $131.37 and a 12-month high of $228.66. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The company's 50-day moving average price is $168.44 and its 200-day moving average price is $174.85. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 29.73, 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 the consensus estimate of $1.62 by $0.47. The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.12 EPS. As a group, equities analysts anticipate that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Dycom Industries announced that its board has initiated a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors 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.