1,728 Shares in Dycom Industries, Inc. (NYSE:DY) Acquired by Simplicity Wealth LLC

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

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Dycom Industries by 1.3% in the fourth 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 in the last quarter. First Trust Advisors LP raised its stake in shares of Dycom Industries by 142.9% in the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock worth $86,405,000 after purchasing an additional 292,050 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Dycom Industries in the fourth quarter worth about $80,584,000. Norges Bank purchased a new position in shares of Dycom Industries in the fourth quarter worth about $55,802,000. Finally, Northern Trust Corp raised its stake in shares of Dycom Industries by 8.7% in the fourth quarter. Northern Trust Corp now owns 320,481 shares of the construction company's stock worth $55,783,000 after purchasing an additional 25,571 shares during the last quarter. Institutional investors own 98.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on DY shares. KeyCorp reduced their price objective on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. UBS Group raised their price objective on Dycom Industries from $234.00 to $258.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Wells Fargo & Company raised their price objective on Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Raymond James lifted their price target on Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, DA Davidson lifted their price target on Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $241.25.

Dycom Industries Stock Performance

DY stock traded down $0.01 during trading on Monday, hitting $233.14. 330,659 shares of the company traded hands, compared to its average volume of 420,680. The company has a market cap of $6.74 billion, a PE ratio of 30.68, a P/E/G ratio of 1.29 and a beta of 1.32. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $243.38. The stock's 50-day simple moving average is $194.31 and its 200 day simple moving average is $180.09. 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 posted its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.47. The business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. The business's revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.12 earnings per share. On average, equities analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

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