Bank of Montreal Can Takes Position in Dycom Industries, Inc. (NYSE:DY)

Bank of Montreal Can bought a new position in Dycom Industries, Inc. (NYSE:DY) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,464 shares of the construction company’s stock, valued at approximately $624,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DY. CWM LLC lifted its holdings in shares of Dycom Industries by 35.2% during the first quarter. CWM LLC now owns 430 shares of the construction company’s stock valued at $40,000 after acquiring an additional 112 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Dycom Industries by 114.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 490 shares of the construction company’s stock valued at $45,000 after acquiring an additional 261 shares during the period. Assetmark Inc. lifted its holdings in shares of Dycom Industries by 45.6% during the first quarter. Assetmark Inc. now owns 1,640 shares of the construction company’s stock valued at $154,000 after acquiring an additional 514 shares during the period. SkyView Investment Advisors LLC bought a new position in shares of Dycom Industries during the first quarter valued at $173,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Dycom Industries by 61.8% during the first quarter. Captrust Financial Advisors now owns 1,974 shares of the construction company’s stock valued at $188,000 after acquiring an additional 754 shares during the period. 98.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DY shares. UBS Group lowered their target price on Dycom Industries from $132.00 to $127.00 and set a “buy” rating for the company in a research note on Monday, August 21st. B. Riley restated a “neutral” rating and issued a $111.00 target price on shares of Dycom Industries in a research note on Thursday, August 24th. StockNews.com upgraded Dycom Industries from a “hold” rating to a “buy” rating in a research note on Thursday, October 19th. Bank of America started coverage on Dycom Industries in a research note on Tuesday, October 3rd. They issued a “buy” rating and a $120.00 target price for the company. Finally, Raymond James upgraded Dycom Industries from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price for the company in a research note on Friday, October 20th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $117.83.

Dycom Industries Price Performance

Dycom Industries stock opened at $87.66 on Thursday. The firm has a market capitalization of $2.57 billion, a P/E ratio of 13.72, a PEG ratio of 0.73 and a beta of 1.29. 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 moving average of $87.80 and a 200-day moving average of $97.18. The company has a current ratio of 3.38, a quick ratio of 3.13 and a debt-to-equity ratio of 0.83.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, August 23rd. The construction company reported $2.03 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $1.46 EPS. Dycom Industries’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that Dycom Industries, Inc. will post 6.46 EPS for the current year.

Insider Activity

In other Dycom Industries 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 sale, the vice president now owns 5,205 shares in the company, valued at approximately $459,965.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.32% of the stock is currently 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.