Annapolis Financial Services LLC Makes New $29,000 Investment in Dycom Industries, Inc. (NYSE:DY)

Annapolis Financial Services LLC purchased a new stake in shares of Dycom Industries, Inc. (NYSE:DY) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 149 shares of the construction company’s stock, valued at approximately $29,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of Dycom Industries by 33.1% in the first quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company’s stock worth $4,630,000 after acquiring an additional 8,028 shares during the period. Sheets Smith Wealth Management lifted its holdings in Dycom Industries by 100.0% during the first quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock valued at $1,009,000 after purchasing an additional 3,514 shares in the last quarter. Vanguard Group Inc. raised its holdings in Dycom Industries by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock valued at $366,406,000 after acquiring an additional 42,121 shares during the period. UniSuper Management Pty Ltd bought a new position in Dycom Industries in the 1st quarter worth approximately $794,000. Finally, ClariVest Asset Management LLC purchased a new position in Dycom Industries during the first quarter valued at $2,913,000. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Stock Performance

Shares of NYSE DY opened at $199.03 on Thursday. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.57 and a beta of 1.41. Dycom Industries, Inc. has a 12 month low of $78.42 and a 12 month high of $200.52. The company has a 50 day simple moving average of $185.18 and a two-hundred day simple moving average of $170.17. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating 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 quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.03 earnings per share. As a group, analysts predict that Dycom Industries, Inc. will post 8.02 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on DY. StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Bank of America lifted their target price on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. KeyCorp lifted their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. B. Riley raised their target price on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company lifted their price objective on Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $203.43.

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.