Two Sigma Investments LP Has $1.64 Million Position in Dycom Industries, Inc. (NYSE:DY)

Two Sigma Investments LP cut its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 24.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,441 shares of the construction company's stock after selling 3,071 shares during the quarter. Two Sigma Investments LP's holdings in Dycom Industries were worth $1,643,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in Dycom Industries by 209.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company's stock valued at $68,000 after buying an additional 264 shares during the last quarter. Braun Stacey Associates Inc. grew its position in Dycom Industries by 110.7% in the 4th quarter. Braun Stacey Associates Inc. now owns 61,091 shares of the construction company's stock worth $10,633,000 after purchasing an additional 32,098 shares during the last quarter. Barclays PLC increased its holdings in shares of Dycom Industries by 279.0% during the 3rd quarter. Barclays PLC now owns 57,923 shares of the construction company's stock worth $11,419,000 after purchasing an additional 42,641 shares during the period. J. Goldman & Co LP increased its holdings in shares of Dycom Industries by 25.4% during the 4th quarter. J. Goldman & Co LP now owns 90,253 shares of the construction company's stock worth $15,709,000 after purchasing an additional 18,289 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Dycom Industries by 4,021.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,202 shares of the construction company's stock worth $1,449,000 after purchasing an additional 8,003 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Price Performance

Shares of NYSE:DY traded up $0.95 during trading on Wednesday, reaching $236.24. The stock had a trading volume of 331,397 shares, compared to its average volume of 414,751. The stock has a market capitalization of $6.83 billion, a PE ratio of 31.08, 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. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $237.72. The business's 50-day moving average price is $178.33 and its 200 day moving average price is $176.87.

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 for the quarter, beating analysts' consensus estimates of $1.62 by $0.47. The firm 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% on a year-over-year basis. During the same period last year, the firm posted $2.12 EPS. As a group, equities analysts predict that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Dycom Industries announced that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. KeyCorp dropped their price objective 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 upped their target price on shares of Dycom Industries from $215.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Wall Street Zen cut shares of Dycom Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. DA Davidson upped their target price on shares of Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, UBS Group upped their target price on shares of Dycom Industries from $234.00 to $258.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price 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.