Marshall Wace LLP Acquires 5,035 Shares of Dycom Industries, Inc. (NYSE:DY)

Marshall Wace LLP increased its holdings in shares of Dycom Industries, Inc. (NYSE:DY – Get Rating) by 8.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 64,814 shares of the construction company’s stock after acquiring an additional 5,035 shares during the period. Marshall Wace LLP owned about 0.22% of Dycom Industries worth $6,192,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DY. Principal Financial Group Inc. raised its position in Dycom Industries by 30.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,102,115 shares of the construction company’s stock valued at $102,540,000 after purchasing an additional 255,487 shares in the last quarter. State Street Corp raised its position in Dycom Industries by 4.1% during the 1st quarter. State Street Corp now owns 951,063 shares of the construction company’s stock valued at $90,598,000 after purchasing an additional 37,181 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Dycom Industries by 3.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 388,635 shares of the construction company’s stock valued at $37,022,000 after purchasing an additional 14,419 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Dycom Industries during the 3rd quarter valued at $30,636,000. Finally, Millennium Management LLC raised its position in Dycom Industries by 16.7% during the 2nd quarter. Millennium Management LLC now owns 297,703 shares of the construction company’s stock valued at $27,698,000 after purchasing an additional 42,583 shares in the last quarter. 92.82% of the stock is owned by institutional investors.

Dycom Industries Stock Down 3.1 %

Shares of DY stock opened at $99.24 on Monday. Dycom Industries, Inc. has a 1-year low of $76.21 and a 1-year high of $122.13. The stock’s fifty day moving average price is $92.13 and its 200 day moving average price is $98.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.18 and a quick ratio of 2.93. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 20.94 and a beta of 1.29.

Dycom Industries (NYSE:DY – Get Rating) last announced its earnings results on Wednesday, March 1st. The construction company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.66. Dycom Industries had a return on equity of 16.43% and a net margin of 3.73%. The firm had revenue of $917.50 million for the quarter, compared to the consensus estimate of $815.89 million. During the same period in the previous year, the business earned $0.02 EPS. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, research analysts expect that Dycom Industries, Inc. will post 5.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group lifted their price target on Dycom Industries from $124.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, March 2nd. Wells Fargo & Company lifted their price target on Dycom Industries from $88.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, March 2nd. Craig Hallum lifted their price target on Dycom Industries from $110.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, March 2nd. Finally, StockNews.com upgraded Dycom Industries from a “hold” rating to a “buy” rating in a report on Monday, March 6th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $125.80.

Insider Buying and Selling

In other Dycom Industries news, Director Richard K. Sykes sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $92.35, for a total transaction of $184,700.00. Following the sale, the director now owns 17,854 shares in the company, valued at approximately $1,648,816.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.32% of the stock is owned by company insiders.

Dycom Industries Profile

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Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.