Dycom Industries, Inc. (NYSE:DY) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC raised its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 17.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,125 shares of the construction company's stock after buying an additional 2,219 shares during the period. Tidal Investments LLC owned approximately 0.05% of Dycom Industries worth $2,633,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DY. Alyeska Investment Group L.P. purchased a new stake in shares of Dycom Industries during the 4th quarter worth $80,584,000. Norges Bank acquired a new position in Dycom Industries in the fourth quarter valued at $55,802,000. First Trust Advisors LP increased its stake in Dycom Industries by 142.9% in the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock valued at $86,405,000 after purchasing an additional 292,050 shares during the period. Point72 Asset Management L.P. increased its stake in shares of 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 during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of 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 during the period. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Stock Down 0.9%

Dycom Industries stock traded down $2.01 during midday trading on Wednesday, hitting $225.76. 52,647 shares of the stock were exchanged, compared to its average volume of 414,123. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $239.00. The firm has a market cap of $6.50 billion, a P/E ratio of 29.69, a P/E/G 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. The company has a 50 day moving average price of $171.17 and a two-hundred day moving average price of $175.42.

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, topping 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 net margin of 4.91% and a return on equity of 20.99%. The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 EPS. On average, sell-side analysts predict that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Dycom Industries declared that its board has approved a stock 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DY. JPMorgan Chase & Co. boosted their price target on shares of Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. KeyCorp reduced their price target on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company raised their target price on shares of Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday. B. Riley raised their target price on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, DA Davidson increased their price target on shares of Dycom Industries from $220.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. One 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 company. According to data from MarketBeat.com, the stock has an average 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.