27,535 Shares in Dycom Industries, Inc. (NYSE:DY) Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Dycom Industries, Inc. (NYSE:DY) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 27,535 shares of the construction company’s stock, valued at approximately $5,417,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Annapolis Financial Services LLC acquired a new position in Dycom Industries in the third quarter worth approximately $29,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Dycom Industries in the first quarter valued at $28,000. Anchor Investment Management LLC boosted its position in shares of Dycom Industries by 50.4% during the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after acquiring an additional 65 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Dycom Industries by 107.8% in the 2nd quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock valued at $49,000 after purchasing an additional 152 shares during the period. Finally, Signaturefd LLC raised its stake in Dycom Industries by 196.7% during the second quarter. Signaturefd LLC now owns 359 shares of the construction company’s stock worth $61,000 after acquiring an additional 238 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Analyst Ratings Changes

DY has been the subject of a number of research analyst reports. Bank of America boosted their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company raised their target price on shares of Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. B. Riley upped their price objective on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, KeyCorp lifted their price target on shares of Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. One 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $203.43.

Dycom Industries Price Performance

Shares of NYSE DY opened at $193.48 on Tuesday. The company has a market capitalization of $5.63 billion, a PE ratio of 24.03, a P/E/G ratio of 1.56 and a beta of 1.44. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81. The firm has a fifty day simple moving average of $187.51 and a 200 day simple moving average of $176.73. Dycom Industries, Inc. has a twelve month low of $82.71 and a twelve month high of $207.20.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.20. The business 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%. Dycom Industries’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.03 EPS. On average, sell-side analysts forecast that Dycom Industries, Inc. will post 8.02 EPS for the current year.

Dycom Industries 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.