Assenagon Asset Management S.A. Has $1.18 Million Stake in Dycom Industries, Inc. (NYSE:DY)

Assenagon Asset Management S.A. reduced its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 91.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,263 shares of the construction company's stock after selling 107,601 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Dycom Industries were worth $1,181,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DY. BlackRock Inc. lifted its holdings in shares of Dycom Industries by 40.1% during the first quarter. BlackRock Inc. now owns 4,639,633 shares of the construction company's stock worth $434,502,000 after purchasing an additional 1,327,595 shares during the period. Millennium Management LLC lifted its holdings in shares of Dycom Industries by 149.4% during the fourth quarter. Millennium Management LLC now owns 883,489 shares of the construction company's stock worth $82,695,000 after purchasing an additional 529,178 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Dycom Industries by 43.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,728,780 shares of the construction company's stock worth $161,814,000 after purchasing an additional 524,292 shares during the period. Norges Bank purchased a new position in Dycom Industries in the fourth quarter worth $31,646,000. Finally, Alyeska Investment Group L.P. purchased a new position in Dycom Industries in the fourth quarter worth $15,821,000. 98.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Jason T. Lawson sold 220 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $140.27, for a total value of $30,859.40. Following the completion of the sale, the vice president now directly owns 7,793 shares in the company, valued at approximately $1,093,124.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.25% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. B. Riley upgraded Dycom Industries from a "neutral" rating to a "buy" rating and raised their price target for the company from $101.00 to $172.00 in a research report on Friday, March 8th. KeyCorp raised their price target on Dycom Industries from $136.00 to $149.00 and gave the company an "overweight" rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $135.50.

Dycom Industries Stock Up 2.1 %

Dycom Industries stock traded up $2.86 during midday trading on Friday, hitting $142.32. 226,226 shares of the company were exchanged, compared to its average volume of 263,866. The company's fifty day moving average price is $128.78 and its 200-day moving average price is $109.29. The company has a market cap of $4.14 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 0.82 and a beta of 1.38. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.06 and a quick ratio of 2.85. Dycom Industries, Inc. has a fifty-two week low of $78.42 and a fifty-two week high of $146.32.

Dycom Industries (NYSE:DY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The construction company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.15). Dycom Industries had a return on equity of 22.06% and a net margin of 5.24%. The business had revenue of $952.50 million for the quarter, compared to analysts' expectations of $968.87 million. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Dycom Industries's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts predict that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

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.