OVERSEA CHINESE BANKING Corp Ltd Has $72.46 Million Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 851.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 475,637 shares of the construction company's stock after purchasing an additional 425,652 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned 1.65% of Dycom Industries worth $72,459,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of DY. Alyeska Investment Group L.P. acquired a new stake in shares of Dycom Industries during the fourth quarter worth $80,584,000. Norges Bank acquired a new stake in shares of Dycom Industries during the fourth quarter worth $55,802,000. Assenagon Asset Management S.A. raised its position in shares of Dycom Industries by 327.1% during 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 period. First Trust Advisors LP raised its position in shares of Dycom Industries by 142.9% during the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock worth $86,405,000 after purchasing an additional 292,050 shares during the period. Finally, Point72 Asset Management L.P. raised its position in shares of Dycom Industries by 261.6% during the fourth quarter. Point72 Asset Management L.P. now owns 224,277 shares of the construction company's stock worth $39,038,000 after purchasing an additional 162,262 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Stock Up 1.5%

Shares of Dycom Industries stock traded up $3.76 during trading on Thursday, hitting $256.58. 234,866 shares of the stock traded hands, compared to its average volume of 424,376. The stock has a market cap of $7.42 billion, a P/E ratio of 32.52, a PEG ratio of 1.44 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.68 and a current ratio of 2.89. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $257.36. The company has a fifty day moving average price of $231.57 and a two-hundred day moving average price of $190.39.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.47. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.19 billion. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The firm's revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.12 EPS. Equities research analysts predict that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group upped their price target on Dycom Industries from $258.00 to $288.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Wall Street Zen raised Dycom Industries from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. 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, May 23rd. B. Riley upped their price target on Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, 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, May 22nd. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus 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.