Raymond James & Associates Acquires 206 Shares of Dycom Industries, Inc. (NYSE:DY)

Raymond James & Associates raised its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 7.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,988 shares of the construction company’s stock after acquiring an additional 206 shares during the quarter. Raymond James & Associates’ holdings in Dycom Industries were worth $340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DY. CWM LLC increased its holdings in shares of Dycom Industries by 35.2% in the first quarter. CWM LLC now owns 430 shares of the construction company’s stock worth $40,000 after purchasing an additional 112 shares during the last quarter. Campbell Newman Asset Management Inc. increased its holdings in shares of Dycom Industries by 0.9% in the first quarter. Campbell Newman Asset Management Inc. now owns 13,763 shares of the construction company’s stock worth $1,289,000 after purchasing an additional 120 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Dycom Industries by 0.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 17,268 shares of the construction company’s stock worth $1,607,000 after purchasing an additional 148 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Dycom Industries by 2.4% in the second quarter. BNP Paribas Arbitrage SA now owns 7,082 shares of the construction company’s stock worth $659,000 after purchasing an additional 168 shares during the last quarter. Finally, Howe & Rusling Inc. increased its holdings in shares of Dycom Industries by 4.5% in the fourth quarter. Howe & Rusling Inc. now owns 4,004 shares of the construction company’s stock worth $375,000 after purchasing an additional 174 shares during the last quarter. 98.43% of the stock is owned by institutional investors.

Dycom Industries Stock Up 2.0 %

Shares of NYSE:DY opened at $83.39 on Friday. Dycom Industries, Inc. has a 1 year low of $77.33 and a 1 year high of $115.53. The business has a 50 day simple moving average of $88.56 and a two-hundred day simple moving average of $97.22. The firm has a market capitalization of $2.45 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 0.73 and a beta of 1.29. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.38 and a quick ratio of 3.13.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 23rd. The construction company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.37. Dycom Industries had a return on equity of 20.89% and a net margin of 4.71%. The business 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 business earned $1.46 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Dycom Industries, Inc. will post 6.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Bank of America assumed coverage on Dycom Industries in a report on Tuesday, October 3rd. They issued a “buy” rating and a $120.00 target price on the stock. UBS Group reduced 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. Wells Fargo & Company boosted their price objective on Dycom Industries from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 24th. Raymond James raised Dycom Industries from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a research note on Friday, October 20th. Finally, StockNews.com raised Dycom Industries from a “hold” rating to a “buy” rating in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Dycom Industries currently has a consensus rating of “Buy” and an average price target of $120.33.

Insider Activity at Dycom Industries

In related news, VP Jason T. Lawson sold 618 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $88.37, for a total value of $54,612.66. Following the completion of the sale, the vice president now owns 5,205 shares in the company, valued at $459,965.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.25% of the stock is owned by company insiders.

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.