Simplicity Wealth LLC Invests $263,000 in Dycom Industries, Inc. (NYSE:DY)

Simplicity Wealth LLC purchased a new position in Dycom Industries, Inc. (NYSE:DY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,728 shares of the construction company's stock, valued at approximately $263,000.

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc acquired a new stake in Dycom Industries during the 1st quarter worth $28,000. EverSource Wealth Advisors LLC boosted its position in Dycom Industries by 26.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after acquiring an additional 71 shares during the last quarter. GeoWealth Management LLC lifted its stake in Dycom Industries by 35.9% in the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock worth $61,000 after purchasing an additional 92 shares in the last quarter. Anchor Investment Management LLC grew its position in shares of Dycom Industries by 37.5% in the fourth quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock valued at $64,000 after purchasing an additional 100 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Dycom Industries by 107.0% in the fourth quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock valued at $67,000 after purchasing an additional 200 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Trading Down 1.2%

DY traded down $2.85 on Friday, hitting $232.69. The company had a trading volume of 295,547 shares, compared to its average volume of 419,153. The company's fifty day moving average price is $190.61 and its 200 day moving average price is $179.38. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $243.38. 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 $6.73 billion, a P/E ratio of 30.62, a PEG ratio of 1.29 and a beta of 1.32.

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

Dycom Industries announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to purchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DY. Wall Street Zen lowered Dycom Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Raymond James boosted their price target on shares of Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. upped their price objective on shares of Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. UBS Group lifted their target price 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. Finally, DA Davidson boosted 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $241.25.

About Dycom Industries

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.