Sherbrooke Park Advisers LLC Takes Position in Dycom Industries, Inc. (NYSE:DY)

Sherbrooke Park Advisers LLC acquired a new stake in Dycom Industries, Inc. (NYSE:DY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,745 shares of the construction company's stock, valued at approximately $304,000.

Several other institutional investors have also modified their holdings of the stock. SIR Capital Management L.P. bought a new stake in shares of Dycom Industries in the 4th quarter valued at approximately $3,616,000. Point72 Asset Management L.P. lifted its stake in shares of Dycom Industries by 261.6% in the 4th quarter. Point72 Asset Management L.P. now owns 224,277 shares of the construction company's stock valued at $39,038,000 after purchasing an additional 162,262 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Dycom Industries by 44.3% in the 4th quarter. ProShare Advisors LLC now owns 8,573 shares of the construction company's stock valued at $1,492,000 after purchasing an additional 2,633 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Dycom Industries by 5.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 218,023 shares of the construction company's stock valued at $37,949,000 after purchasing an additional 11,359 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of Dycom Industries by 1,775.0% in the 4th quarter. Lazard Asset Management LLC now owns 675 shares of the construction company's stock valued at $117,000 after purchasing an additional 639 shares during the last quarter. 98.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday. B. Riley increased their price target on Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a report on Friday. DA Davidson increased their price target on Dycom Industries from $220.00 to $265.00 and gave the stock a "buy" rating in a report on Friday. Raymond James increased their price target on Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a report on Thursday. Finally, Wells Fargo & Company increased their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $236.88.

Dycom Industries Trading Up 0.8%

DY traded up $1.76 during trading on Friday, hitting $225.97. 793,240 shares of the stock were exchanged, compared to its average volume of 415,188. The firm has a 50 day simple moving average of $168.44 and a 200 day simple moving average of $174.82. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 1.29 and a beta of 1.27. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $228.66. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12.

Dycom Industries (NYSE:DY - Get Free Report) last released 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 company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.19 billion. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. Dycom Industries's quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $2.12 EPS. As a group, equities analysts expect that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Dycom Industries declared that its board has approved a stock repurchase program on Wednesday, February 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are generally a sign 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.