Neumeier Poma Investment Counsel LLC Reduces Position in Dycom Industries, Inc. (NYSE:DY)

Key Points

• Neumeier Poma Investment Counsel LLC has reduced its stake in Dycom Industries by 34.4%, selling 85,362 shares and now holding 162,597 shares, making up 2.7% of its investment portfolio.
• Dycom Industries reported a quarterly earnings per share (EPS) of $2.09, surpassing the consensus estimate of $1.62, with revenues of $1.26 billion for the quarter.
• Analysts show positive sentiment towards Dycom Industries, with eight giving it a "buy" rating and price targets as high as $288.00, indicating strong future growth potential.

Neumeier Poma Investment Counsel LLC lessened its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 34.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 162,597 shares of the construction company's stock after selling 85,362 shares during the period. Dycom Industries accounts for approximately 2.7% of Neumeier Poma Investment Counsel LLC's holdings, making the stock its 14th biggest position. Neumeier Poma Investment Counsel LLC owned about 0.56% of Dycom Industries worth $24,770,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in Dycom Industries by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 659,190 shares of the construction company's stock valued at $114,765,000 after acquiring an additional 8,307 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Dycom Industries by 142.9% during the 4th quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock valued at $86,405,000 after purchasing an additional 292,050 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Dycom Industries by 851.6% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company's stock valued at $72,459,000 after purchasing an additional 425,652 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Dycom Industries in the fourth quarter worth about $80,584,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Dycom Industries by 327.1% in the first quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company's stock worth $60,818,000 after purchasing an additional 305,755 shares during the last quarter. 98.33% of the stock is owned by institutional investors.

Dycom Industries Trading Up 0.9%

NYSE:DY traded up $2.60 during midday trading on Friday, hitting $279.03. 273,436 shares of the company traded hands, compared to its average volume of 243,803. The firm has a market capitalization of $8.07 billion, a P/E ratio of 35.37, a P/E/G ratio of 1.58 and a beta of 1.34. The firm's fifty day moving average is $249.42 and its 200-day moving average is $199.58. Dycom Industries, Inc. has a 12-month low of $131.37 and a 12-month high of $279.41. The company has a current ratio of 2.89, a quick ratio of 2.68 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 earnings per share for the quarter, beating the consensus estimate 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 for 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 business's revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. DA Davidson increased their price target on Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. upped their price objective on Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, May 22nd. Raymond James Financial increased their target price on Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 22nd. B. Riley boosted their price target on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, UBS Group increased 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. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $259.00.

About Dycom Industries

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.