OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 851.6% during the first quarter, according to the company in its most recent disclosure 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 about 1.65% of Dycom Industries worth $72,459,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of DY. Amundi boosted its holdings in Dycom Industries by 190.9% in the fourth quarter. Amundi now owns 14,899 shares of the construction company's stock worth $2,667,000 after purchasing an additional 9,777 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Dycom Industries by 20.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,183 shares of the construction company's stock worth $1,424,000 after buying an additional 1,394 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Dycom Industries by 26.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after buying an additional 71 shares during the period. Swiss National Bank lifted its stake in Dycom Industries by 0.7% in the 4th quarter. Swiss National Bank now owns 57,200 shares of the construction company's stock worth $9,956,000 after purchasing an additional 400 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its stake in Dycom Industries by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company's stock worth $1,221,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. DA Davidson upped their price target 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. B. Riley increased their price objective on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. KeyCorp cut their price objective on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Raymond James Financial boosted their target price on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $245.00.
Read Our Latest Stock Analysis on DY
Dycom Industries Stock Performance
Shares of DY stock traded down $2.52 during mid-day trading on Tuesday, hitting $251.11. The stock had a trading volume of 61,675 shares, compared to its average volume of 422,826. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.89 and a quick ratio of 2.68. Dycom Industries, Inc. has a fifty-two week low of $131.37 and a fifty-two week high of $255.65. The company's 50-day simple moving average is $226.01 and its 200-day simple moving average is $188.41. The firm has a market cap of $7.26 billion, a PE ratio of 31.87, a PEG ratio of 1.44 and a beta of 1.32.
Dycom Industries (NYSE:DY - Get Free Report) last issued its quarterly 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. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. Dycom Industries had a net margin of 4.81% and a return on equity of 20.04%. The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.12 earnings per share. Sell-side analysts anticipate that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.
Dycom Industries Profile
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Free Report)
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.
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