Advisors Asset Management Inc. Grows Stake in Dycom Industries, Inc. (NYSE:DY)

Advisors Asset Management Inc. raised its stake in Dycom Industries, Inc. (NYSE:DYFree Report) by 19.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 37,911 shares of the construction company’s stock after acquiring an additional 6,128 shares during the quarter. Advisors Asset Management Inc.’s holdings in Dycom Industries were worth $7,472,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Accent Capital Management LLC purchased a new position in Dycom Industries in the third quarter valued at about $25,000. Allspring Global Investments Holdings LLC purchased a new position in Dycom Industries in the first quarter valued at about $28,000. Annapolis Financial Services LLC purchased a new position in Dycom Industries in the third quarter valued at about $29,000. Anchor Investment Management LLC increased its position in shares of Dycom Industries by 50.4% during the second quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock worth $33,000 after acquiring an additional 65 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Dycom Industries by 107.8% during the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock worth $49,000 after acquiring an additional 152 shares during the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DY. DA Davidson reaffirmed a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a research report on Tuesday. Bank of America lifted their price target on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. B. Riley lifted their price target on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. KeyCorp lifted their price target on Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $206.13.

View Our Latest Stock Analysis on DY

Dycom Industries Stock Performance

DY opened at $176.56 on Thursday. The business’s 50 day moving average is $189.40 and its 200-day moving average is $178.80. The stock has a market cap of $5.14 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.55 and a beta of 1.44. 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, Inc. has a twelve month low of $96.50 and a twelve month high of $207.20.

Dycom Industries (NYSE:DYGet Free Report) last released its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.03 earnings per share. On average, analysts predict that Dycom Industries, Inc. will post 7.96 earnings per share for the current year.

Dycom Industries Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Dycom Industries (NYSE:DY)

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