EFG International AG Invests $4.99 Million in Dycom Industries, Inc. $DY

Key Points

• EFG International AG acquired 9,861 Dycom Industries shares during the second quarter, worth approximately $4.99 million. Institutional investors collectively own 98.33% of Dycom’s outstanding stock.
• Analysts remain broadly positive: 11 analysts rate Dycom a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $578.09.
• Dycom reported strong quarterly results, with EPS of $4.42 versus the $2.73 consensus and revenue of $1.96 billion, up 56.1% year over year. Analysts expect full-year EPS of $15.45.

EFG International AG bought a new stake in Dycom Industries, Inc. (NYSE:DY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,861 shares of the construction company's stock, valued at approximately $4,991,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in Dycom Industries by 265,593,055.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company's stock worth $8,076,953,000 after purchasing an additional 23,903,375 shares during the last quarter. BlackRock Inc. bought a new position in Dycom Industries in the 2nd quarter valued at $1,513,523,000. Hill City Capital LP purchased a new stake in shares of Dycom Industries during the 2nd quarter valued at $510,536,693,000. Bank of New York Mellon Corp purchased a new stake in shares of Dycom Industries during the 2nd quarter valued at $90,216,000. Finally, First Trust Advisors LP raised its stake in shares of Dycom Industries by 27.8% during the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company's stock worth $270,615,000 after purchasing an additional 173,528 shares during the period. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. B. Riley Financial boosted their price target on shares of Dycom Industries from $485.00 to $625.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. KeyCorp increased their price objective on Dycom Industries from $482.00 to $610.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Wall Street Zen downgraded Dycom Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Cantor Fitzgerald boosted their target price on Dycom Industries from $436.00 to $654.00 and gave the company an "overweight" rating in a research note on Friday, May 29th. Finally, Zacks Research cut Dycom Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $578.09.

Dycom Industries Stock Performance

NYSE DY opened at $354.42 on Wednesday. The company's 50 day moving average is $427.20 and its 200-day moving average is $415.67. Dycom Industries, Inc. has a 12-month low of $242.55 and a 12-month high of $566.47. The company has a quick ratio of 2.46, a current ratio of 2.58 and a debt-to-equity ratio of 1.48. The firm has a market cap of $10.64 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 0.67 and a beta of 1.54.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The construction company reported $4.42 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $1.69. The company had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.67 billion. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. Dycom Industries's revenue was up 56.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 EPS. Sell-side analysts predict that Dycom Industries, Inc. will post 15.45 earnings per share for the current year.

Dycom Industries Company Profile

Dycom Industries, Inc NYSE: DY is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom's services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom's customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.

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