ProShare Advisors LLC Increases Position in Dycom Industries, Inc. (NYSE:DY)

ProShare Advisors LLC raised its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 44.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,573 shares of the construction company's stock after acquiring an additional 2,633 shares during the period. ProShare Advisors LLC's holdings in Dycom Industries were worth $1,492,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Dycom Industries by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 659,190 shares of the construction company's stock worth $114,765,000 after acquiring an additional 8,307 shares during the last quarter. First Trust Advisors LP grew its position in Dycom Industries by 142.9% during the 4th quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock worth $86,405,000 after acquiring an additional 292,050 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Dycom Industries during the 4th quarter worth approximately $80,584,000. Norges Bank bought a new stake in Dycom Industries during the 4th quarter worth approximately $55,802,000. Finally, Northern Trust Corp grew its position in Dycom Industries by 8.7% during the 4th quarter. Northern Trust Corp now owns 320,481 shares of the construction company's stock worth $55,783,000 after acquiring an additional 25,571 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company's stock.

Analyst Ratings Changes

DY has been the subject of a number of recent research reports. UBS Group boosted their price target on shares of Dycom Industries from $234.00 to $258.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. lifted 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. Wells Fargo & Company lifted their target price on shares of Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday. Raymond James lifted their target price on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 22nd. Finally, B. Riley lifted their target price on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a report on Friday. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $241.25.

Dycom Industries Stock Up 0.4%

Shares of NYSE DY traded up $0.96 during mid-day trading on Tuesday, reaching $226.16. 86,443 shares of the company's stock traded hands, compared to its average volume of 413,924. The stock has a market cap of $6.51 billion, a P/E ratio of 29.73, a PEG ratio of 1.29 and a beta of 1.27. The business has a 50-day simple moving average of $169.80 and a 200 day simple moving average of $175.05. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $233.72. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93.

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

Dycom Industries announced that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to purchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Dycom Industries Company 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.