ProShare Advisors LLC Acquires 2,633 Shares of Dycom Industries, Inc. (NYSE:DY)

ProShare Advisors LLC increased its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 44.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,573 shares of the construction company's stock after purchasing an additional 2,633 shares during the quarter. ProShare Advisors LLC's holdings in Dycom Industries were worth $1,492,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its holdings in shares of Dycom Industries by 209.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company's stock valued at $68,000 after acquiring an additional 264 shares in the last quarter. Park Avenue Securities LLC purchased a new position in Dycom Industries in the 4th quarter worth approximately $371,000. Transform Wealth LLC bought a new position in shares of Dycom Industries in the 4th quarter worth $479,000. Braun Stacey Associates Inc. lifted its holdings in shares of Dycom Industries by 110.7% during the 4th quarter. Braun Stacey Associates Inc. now owns 61,091 shares of the construction company's stock worth $10,633,000 after acquiring an additional 32,098 shares during the last quarter. Finally, Mariner Investment Group LLC lifted its holdings in shares of Dycom Industries by 327.7% during the 4th quarter. Mariner Investment Group LLC now owns 11,000 shares of the construction company's stock worth $1,915,000 after acquiring an additional 8,428 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DY has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. 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 report on Thursday. Raymond James boosted their price objective on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a report on Thursday. DA Davidson boosted their price target on shares of Dycom Industries from $220.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday. Finally, KeyCorp reduced their price objective on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $236.88.

Dycom Industries Stock Up 0.8%

Shares of DY stock traded up $1.76 during midday trading on Friday, reaching $225.97. 793,240 shares of the stock were exchanged, compared to its average volume of 415,188. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The firm has a market cap of $6.50 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27. The company's 50 day moving average is $168.44 and its two-hundred day moving average is $174.82. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $228.66.

Dycom Industries (NYSE:DY - Get Free Report) last posted 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. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted $2.12 earnings per share. Dycom Industries's quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts predict that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Dycom Industries announced that its board has approved a share buyback plan on Wednesday, February 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership 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.