IMC Chicago LLC Invests $1.78 Million in Dycom Industries, Inc. (NYSE:DY)

IMC Chicago LLC bought a new position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,665 shares of the construction company's stock, valued at approximately $1,777,000.

A number of other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. raised its stake in Dycom Industries by 70,784.2% during the first quarter. NBC Securities Inc. now owns 13,468 shares of the construction company's stock worth $2,051,000 after purchasing an additional 13,449 shares during the period. Somerset Trust Co increased its position in shares of Dycom Industries by 28.5% during the first quarter. Somerset Trust Co now owns 5,949 shares of the construction company's stock valued at $906,000 after acquiring an additional 1,320 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Dycom Industries by 14,170.3% during the first quarter. GAMMA Investing LLC now owns 58,651 shares of the construction company's stock valued at $8,935,000 after acquiring an additional 58,240 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of Dycom Industries during the first quarter valued at about $28,000. Finally, Total Wealth Planning & Management Inc. acquired a new stake in shares of Dycom Industries during the fourth quarter valued at about $639,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Stock Down 1.2%

Shares of DY stock traded down $2.85 during trading on Friday, reaching $232.69. The company's stock had a trading volume of 295,547 shares, compared to its average volume of 421,025. 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 company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 30.62, a P/E/G ratio of 1.29 and a beta of 1.32. The stock's 50-day moving average price is $192.46 and its 200 day moving average price is $179.73. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $243.38.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.47. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the business posted $2.12 earnings per share. The business's quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Dycom Industries declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

DY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. 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 report on Wednesday, April 16th. Wall Street Zen upgraded shares of Dycom Industries from a "hold" rating to a "buy" rating in a research report on Saturday. Raymond James lifted their price target on shares of Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, DA Davidson lifted their price objective on shares of Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Dycom Industries has a consensus rating of "Buy" and a consensus target price of $241.25.

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.