Raymond James & Associates Grows Stake in Dycom Industries, Inc. (NYSE:DY)

Raymond James & Associates grew its holdings in Dycom Industries, Inc. (NYSE:DY) by 7.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,759 shares of the construction company’s stock after acquiring an additional 194 shares during the period. Raymond James & Associates’ holdings in Dycom Industries were worth $318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Dycom Industries by 15.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 974 shares of the construction company’s stock valued at $87,000 after purchasing an additional 132 shares during the period. First Bank & Trust bought a new stake in Dycom Industries during the fourth quarter valued at about $219,000. Assetmark Inc. grew its holdings in Dycom Industries by 20.0% during the third quarter. Assetmark Inc. now owns 2,510 shares of the construction company’s stock valued at $223,000 after purchasing an additional 418 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Dycom Industries during the third quarter valued at about $240,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Dycom Industries in the third quarter worth about $307,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Insider Activity at Dycom Industries

In other Dycom Industries news, VP Jason T. Lawson sold 220 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $140.27, for a total transaction of $30,859.40. Following the sale, the vice president now directly owns 7,793 shares in the company, valued at $1,093,124.11. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.28% of the stock is owned by corporate insiders.

Dycom Industries Price Performance

Shares of Dycom Industries stock opened at $142.76 on Monday. The stock has a 50 day moving average of $135.77 and a 200 day moving average of $114.70. Dycom Industries, Inc. has a 12 month low of $78.42 and a 12 month high of $146.32. The firm has a market cap of $4.15 billion, a PE ratio of 19.37, a PEG ratio of 0.84 and a beta of 1.38. The company has a current ratio of 3.06, a quick ratio of 2.85 and a debt-to-equity ratio of 0.75.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.15). Dycom Industries had a net margin of 5.24% and a return on equity of 22.06%. The firm had revenue of $952.50 million for the quarter, compared to the consensus estimate of $968.87 million. During the same period in the previous year, the company posted $0.83 earnings per share. Dycom Industries’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts expect that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DY. B. Riley raised Dycom Industries from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $101.00 to $172.00 in a research note on Friday, March 8th. KeyCorp upped their price objective on Dycom Industries from $136.00 to $149.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. 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 company. Based on data from MarketBeat.com, Dycom Industries has a consensus rating of “Buy” and an average target price of $135.50.

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.