Squarepoint Ops LLC Has $5.86 Million Stock Position in Dycom Industries, Inc. (NYSE:DY)

Squarepoint Ops LLC lifted its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 785.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,685 shares of the construction company's stock after purchasing an additional 29,882 shares during the period. Squarepoint Ops LLC owned 0.12% of Dycom Industries worth $5,863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DY. Alyeska Investment Group L.P. bought a new position in Dycom Industries during the fourth quarter worth about $80,584,000. Norges Bank bought a new position in Dycom Industries during the fourth quarter worth about $55,802,000. First Trust Advisors LP lifted its holdings in Dycom Industries by 142.9% during the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock worth $86,405,000 after acquiring an additional 292,050 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Dycom Industries by 261.6% during the fourth quarter. Point72 Asset Management L.P. now owns 224,277 shares of the construction company's stock worth $39,038,000 after acquiring an additional 162,262 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Dycom Industries by 119.8% during the fourth quarter. JPMorgan Chase & Co. now owns 176,572 shares of the construction company's stock worth $30,734,000 after acquiring an additional 96,252 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Stock Up 0.6%

Shares of DY traded up $1.29 during midday trading on Friday, hitting $229.63. The stock had a trading volume of 75,213 shares, compared to its average volume of 413,575. The company has a 50 day simple moving average of $173.93 and a two-hundred day simple moving average of $176.02. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $230.30. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27. 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 released its quarterly earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.47. The firm 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%. The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $2.12 EPS. On average, analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Dycom Industries announced that its board has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 3.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on DY. JPMorgan Chase & Co. lifted their target price on Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, May 22nd. KeyCorp reduced their target price on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. DA Davidson lifted their target price on Dycom Industries from $220.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Wells Fargo & Company lifted their price target on Dycom Industries from $215.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, 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 note on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $241.25.

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.