Vanguard Personalized Indexing Management LLC Invests $259,000 in Dycom Industries, Inc. (NYSE:DY)

Vanguard Personalized Indexing Management LLC bought a new stake in shares of Dycom Industries, Inc. (NYSE:DY) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,767 shares of the construction company’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DY. Vanguard Group Inc. increased its stake in shares of Dycom Industries by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,753,480 shares of the construction company’s stock worth $263,040,000 after acquiring an additional 18,125 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Dycom Industries by 43.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,728,780 shares of the construction company’s stock valued at $161,814,000 after buying an additional 524,292 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Dycom Industries by 9.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,140,281 shares of the construction company’s stock valued at $106,787,000 after buying an additional 96,268 shares during the period. State Street Corp boosted its stake in shares of Dycom Industries by 4.1% in the 1st quarter. State Street Corp now owns 951,063 shares of the construction company’s stock valued at $90,598,000 after buying an additional 37,181 shares during the period. Finally, Millennium Management LLC lifted its stake in Dycom Industries by 149.4% during the fourth quarter. Millennium Management LLC now owns 883,489 shares of the construction company’s stock worth $82,695,000 after purchasing an additional 529,178 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com assumed coverage on Dycom Industries in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Raymond James started coverage on Dycom Industries in a research report on Wednesday, May 31st. They issued an “outperform” rating and a $120.00 price objective for the company. Wells Fargo & Company increased their price objective on Dycom Industries from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. DA Davidson restated a “buy” rating on shares of Dycom Industries in a research report on Wednesday, May 31st. Finally, UBS Group decreased their price objective on Dycom Industries from $132.00 to $127.00 and set a “buy” rating on the stock in a research note on Monday, August 21st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.40.

Dycom Industries Price Performance

Shares of NYSE DY opened at $100.04 on Friday. Dycom Industries, Inc. has a twelve month low of $77.33 and a twelve month high of $122.13. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 15.66 and a beta of 1.32. The company has a current ratio of 3.38, a quick ratio of 3.13 and a debt-to-equity ratio of 0.83. The business has a 50 day simple moving average of $103.13 and a 200-day simple moving average of $98.34.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Wednesday, August 23rd. The construction company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.37. Dycom Industries had a return on equity of 20.89% and a net margin of 4.71%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts expect that Dycom Industries, Inc. will post 6.5 earnings per share for the current year.

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.