Jefferies Financial Group Inc. Acquires New Holdings in Dycom Industries, Inc. (NYSE:DY)

Key Points

• Jefferies Financial Group Inc. has invested approximately $5.61 million in shares of Dycom Industries, Inc., acquiring nearly 36,799 shares, which now represents 0.13% ownership of the company.
• Shareholders of Dycom Industries have seen positive changes, with multiple hedge funds increasing their stakes, resulting in institutional investors owning about 98.33% of the stock.
• Dycom recently reported $2.09 EPS for the last quarter, surpassing estimates of $1.62, alongside a revenue of $1.26 billion, indicating a year-over-year growth of 10.2%.

Jefferies Financial Group Inc. bought a new stake in Dycom Industries, Inc. (NYSE:DY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 36,799 shares of the construction company's stock, valued at approximately $5,606,000. Jefferies Financial Group Inc. owned 0.13% of Dycom Industries as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. 12th Street Asset Management Company LLC purchased a new position in Dycom Industries during the 1st quarter worth approximately $4,143,000. TradeLink Capital LLC bought a new stake in Dycom Industries during the first quarter worth about $489,000. Federated Hermes Inc. grew its stake in shares of Dycom Industries by 27.1% during the first quarter. Federated Hermes Inc. now owns 492 shares of the construction company's stock valued at $75,000 after purchasing an additional 105 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Dycom Industries by 42.6% in the first quarter. Mackenzie Financial Corp now owns 2,568 shares of the construction company's stock valued at $391,000 after buying an additional 767 shares during the period. Finally, LPL Financial LLC raised its holdings in Dycom Industries by 6.8% in the first quarter. LPL Financial LLC now owns 10,798 shares of the construction company's stock worth $1,645,000 after purchasing an additional 685 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Trading Up 0.9%

DY stock traded up $2.51 during trading on Tuesday, hitting $267.49. The company had a trading volume of 184,984 shares, compared to its average volume of 434,980. The firm has a market capitalization of $7.74 billion, a P/E ratio of 33.90, a PEG ratio of 1.50 and a beta of 1.34. Dycom Industries, Inc. has a 52-week low of $131.37 and a 52-week high of $271.80. The company has a 50 day simple moving average of $245.83 and a 200-day simple moving average of $197.42. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.80.

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 analysts' consensus estimates of $1.62 by $0.47. Dycom Industries had a net margin of 4.81% and a return on equity of 20.04%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company posted $2.12 earnings per share. The firm's revenue was up 10.2% on a year-over-year basis. As a group, research analysts forecast that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on DY. UBS Group lifted their price objective on shares of Dycom Industries from $258.00 to $288.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. boosted 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 boosted their target price on shares of Dycom Industries from $255.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company increased their price objective on Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Finally, Raymond James Financial increased 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. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $259.00.

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.