Man Group plc Has $3.74 Million Stake in Dycom Industries, Inc. (NYSE:DY)

Man Group plc cut its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,470 shares of the construction company's stock after selling 2,228 shares during the period. Man Group plc owned about 0.07% of Dycom Industries worth $3,737,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Alyeska Investment Group L.P. bought a new stake in Dycom Industries in the fourth quarter valued at $80,584,000. Norges Bank bought a new stake in Dycom Industries in the fourth quarter valued at $55,802,000. First Trust Advisors LP grew its position in Dycom Industries by 142.9% in the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock valued at $86,405,000 after acquiring an additional 292,050 shares during the period. JPMorgan Chase & Co. grew its position in Dycom Industries by 119.8% in the fourth quarter. JPMorgan Chase & Co. now owns 176,572 shares of the construction company's stock valued at $30,734,000 after acquiring an additional 96,252 shares during the period. Finally, Reaves W H & Co. Inc. grew its position in Dycom Industries by 232.1% in the fourth quarter. Reaves W H & Co. Inc. now owns 117,429 shares of the construction company's stock valued at $20,440,000 after acquiring an additional 82,071 shares during the period. 98.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on DY shares. UBS Group upped their price target on Dycom Industries from $234.00 to $258.00 and gave the company a "buy" rating in a research report on Thursday. DA Davidson upped their price target on Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a research report on Friday. KeyCorp lowered their price target on 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. upped their price target on Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Wells Fargo & Company upped their price target on Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $236.88.

Dycom Industries Price Performance

Shares of DY stock traded up $1.76 during trading hours on Friday, hitting $225.97. 793,240 shares of the company's stock were exchanged, compared to its average volume of 415,188. The stock's 50-day moving average is $168.44 and its 200-day moving average is $174.82. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The stock has a market cap 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, Inc. has a 52 week low of $131.37 and a 52 week high of $228.66.

Dycom Industries (NYSE:DY - Get Free Report) last announced its earnings results on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.62 by $0.47. The company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.19 billion. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. The business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.12 earnings per share. As a group, research analysts forecast that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Dycom Industries declared that its board has initiated a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.