Short Interest in Dycom Industries, Inc. (NYSE:DY) Grows By 6.1%

Dycom Industries, Inc. (NYSE:DY) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,210,000 shares, an increase of 6.1% from the August 15th total of 1,140,000 shares. Based on an average daily volume of 302,100 shares, the days-to-cover ratio is currently 4.0 days. Approximately 4.3% of the company’s stock are sold short.

Insider Transactions at Dycom Industries

In other Dycom Industries news, VP Jason T. Lawson sold 856 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $174.48, for a total value of $149,354.88. Following the completion of the sale, the vice president now owns 6,937 shares of the company’s stock, valued at $1,210,367.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.28% of the stock is currently owned by company insiders.

Institutional Trading of Dycom Industries

Several institutional investors have recently bought and sold shares of DY. Peconic Partners LLC boosted its stake in shares of Dycom Industries by 0.7% in the 4th quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock valued at $375,847,000 after purchasing an additional 21,635 shares in the last quarter. Vanguard Group Inc. grew its stake in Dycom Industries by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock worth $458,728,000 after buying an additional 12,395 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Dycom Industries by 6.3% during the second quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock worth $275,324,000 after buying an additional 96,846 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Dycom Industries by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,008,912 shares of the construction company’s stock valued at $116,117,000 after acquiring an additional 15,389 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Dycom Industries in the 4th quarter worth approximately $33,679,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on DY shares. Bank of America upped their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. B. Riley lifted their price objective on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Craig Hallum increased their target price on Dycom Industries from $145.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, UBS Group increased their price objective on Dycom Industries from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $199.57.

Dycom Industries Stock Performance

Shares of DY traded up $2.99 on Thursday, reaching $192.99. 33,304 shares of the stock traded hands, compared to its average volume of 277,285. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 1.96 and a beta of 1.41. Dycom Industries has a 12 month low of $78.42 and a 12 month high of $196.34. The stock’s 50-day moving average price is $179.47 and its 200-day moving average price is $163.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.20. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $2.03 EPS. Equities analysts forecast that Dycom Industries will post 8.02 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.