Tidal Investments LLC Acquires 2,219 Shares of Dycom Industries, Inc. (NYSE:DY)

Tidal Investments LLC lifted its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 17.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,125 shares of the construction company's stock after buying an additional 2,219 shares during the period. Tidal Investments LLC owned about 0.05% of Dycom Industries worth $2,633,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of DY. EverSource Wealth Advisors LLC boosted its position in Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock valued at $59,000 after buying an additional 71 shares in the last quarter. GeoWealth Management LLC increased its holdings in shares of Dycom Industries by 35.9% during the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock worth $61,000 after buying an additional 92 shares in the last quarter. Anchor Investment Management LLC lifted its stake in shares of Dycom Industries by 37.5% in the 4th quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock valued at $64,000 after acquiring an additional 100 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Dycom Industries by 107.0% during the 4th quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock valued at $67,000 after acquiring an additional 200 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Dycom Industries by 209.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company's stock worth $68,000 after acquiring an additional 264 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. KeyCorp dropped their target price on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Raymond James upped their price objective on Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research note on Thursday. B. Riley cut their target price on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. UBS Group boosted their target price on shares of Dycom Industries from $234.00 to $258.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Wells Fargo & Company upped their price target on shares of Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Dycom Industries presently has an average rating of "Buy" and an average price target of $218.33.

Dycom Industries Price Performance

Shares of DY opened at $224.11 on Friday. The business has a 50-day moving average of $167.05 and a 200-day moving average of $174.56. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 29.49, a price-to-earnings-growth 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.

Dycom Industries (NYSE:DY - Get Free Report) last released its earnings results 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. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm posted $2.12 EPS. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Dycom Industries declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to buy up to 3.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

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.

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