Reaves W H & Co. Inc. Has $21.50 Million Stake in Dycom Industries, Inc. (NYSE:DY)

Key Points

• Reaves W H & Co. Inc. increased its holdings in Dycom Industries by 20.2%, acquiring a total of 141,108 shares valued at approximately $21.5 million.
• Multiple institutional investors are actively buying shares in Dycom Industries, with recent increases in stakes from firms like GeoWealth Management (35.9%) and Federated Hermes (107%).
• Analysts remain optimistic about Dycom Industries, raising price targets significantly and maintaining a consensus rating of "Buy" with an average price target of $259.00.

Reaves W H & Co. Inc. raised its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 20.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,108 shares of the construction company's stock after purchasing an additional 23,679 shares during the quarter. Reaves W H & Co. Inc. owned 0.49% of Dycom Industries worth $21,496,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Dycom Industries by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 659,190 shares of the construction company's stock worth $114,765,000 after purchasing an additional 8,307 shares in the last quarter. First Trust Advisors LP boosted its stake in Dycom Industries by 142.9% in the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock valued at $86,405,000 after acquiring an additional 292,050 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Dycom Industries by 851.6% in 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 acquiring an additional 425,652 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Dycom Industries in the fourth quarter valued at about $80,584,000. Finally, Assenagon Asset Management S.A. raised 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 valued at $60,818,000 after buying an additional 305,755 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of Dycom Industries from $258.00 to $288.00 and gave the company a "buy" rating in a report on Thursday, July 10th. B. Riley increased their target price on shares of Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Raymond James Financial increased their target price on shares of Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a report on Thursday, May 22nd. KeyCorp increased their target price on shares of Dycom Industries from $255.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, DA Davidson increased their target price 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. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Dycom Industries currently has a consensus rating of "Buy" and an average target price of $259.00.

Dycom Industries Trading Up 1.0%

Shares of DY stock traded up $2.81 on Wednesday, reaching $270.57. 227,883 shares of the stock were exchanged, compared to its average volume of 238,048. The firm has a 50 day moving average of $247.48 and a two-hundred day moving average of $198.41. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.80. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $272.35. The stock has a market cap of $7.82 billion, a P/E ratio of 34.29, a price-to-earnings-growth ratio of 1.53 and a beta of 1.34.

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

Dycom Industries 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.