Man Group plc decreased its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,470 shares of the construction company's stock after selling 2,228 shares during the quarter. Man Group plc owned 0.07% of Dycom Industries worth $3,737,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in Dycom Industries by 209.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company's stock worth $68,000 after purchasing an additional 264 shares during the period. Park Avenue Securities LLC bought a new position in shares of Dycom Industries in the fourth quarter worth about $371,000. Transform Wealth LLC bought a new position in shares of Dycom Industries in the fourth quarter worth about $479,000. Braun Stacey Associates Inc. lifted its holdings in shares of Dycom Industries by 110.7% in the fourth quarter. Braun Stacey Associates Inc. now owns 61,091 shares of the construction company's stock worth $10,633,000 after acquiring an additional 32,098 shares during the last quarter. Finally, Mariner Investment Group LLC lifted its holdings in shares of Dycom Industries by 327.7% in the fourth quarter. Mariner Investment Group LLC now owns 11,000 shares of the construction company's stock worth $1,915,000 after acquiring an additional 8,428 shares during the last quarter. Institutional investors own 98.33% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on DY shares. UBS Group increased their target price on shares of Dycom Industries from $234.00 to $258.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Raymond James increased their target price on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. increased their target price on shares of Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, May 22nd. KeyCorp dropped their target price on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, B. Riley increased their target price on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a report on Friday. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $241.25.
Get Our Latest Report on DY
Dycom Industries Trading Up 1.2%
Shares of Dycom Industries stock traded up $2.80 on Tuesday, hitting $228.00. The stock had a trading volume of 505,833 shares, compared to its average volume of 415,551. The stock has a 50 day moving average of $171.17 and a 200 day moving average of $175.42. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $228.66. 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 firm has a market capitalization of $6.56 billion, a P/E ratio of 30.00, a PEG 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. 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 during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm posted $2.12 earnings per share. The firm's revenue was up 10.2% compared to the same quarter last year. Sell-side analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.
Dycom Industries announced that its board has authorized a share repurchase plan on Wednesday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.
Dycom Industries Company Profile
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Free Report)
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.
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