International Assets Investment Management LLC Makes New Investment in Dycom Industries, Inc. (NYSE:DY)

International Assets Investment Management LLC purchased a new position in shares of Dycom Industries, Inc. (NYSE:DY) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 57,545 shares of the construction company’s stock, valued at approximately $6,623,000.

Several other hedge funds also recently modified their holdings of the company. Peconic Partners LLC boosted its stake in shares of Dycom Industries by 2.9% during the 3rd quarter. Peconic Partners LLC now owns 3,244,047 shares of the construction company’s stock worth $288,720,000 after purchasing an additional 91,093 shares during the last quarter. FMR LLC boosted its position in shares of Dycom Industries by 3.0% in the third quarter. FMR LLC now owns 674,834 shares of the construction company’s stock worth $60,060,000 after acquiring an additional 19,842 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Dycom Industries by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 400,906 shares of the construction company’s stock worth $35,681,000 after acquiring an additional 12,757 shares during the last quarter. Neumeier Poma Investment Counsel LLC boosted its position in shares of Dycom Industries by 11.5% in the third quarter. Neumeier Poma Investment Counsel LLC now owns 368,545 shares of the construction company’s stock worth $32,801,000 after acquiring an additional 38,050 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Dycom Industries by 8.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,829 shares of the construction company’s stock worth $14,937,000 after acquiring an additional 13,395 shares during the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Dycom Industries

In related news, VP Jason T. Lawson sold 220 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $140.27, for a total value of $30,859.40. Following the transaction, the vice president now owns 7,793 shares in the company, valued at $1,093,124.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DY. B. Riley raised shares of Dycom Industries from a “neutral” rating to a “buy” rating and raised their target price for the stock from $101.00 to $172.00 in a research report on Friday, March 8th. KeyCorp raised their target price on shares of Dycom Industries from $136.00 to $149.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $135.50.

Dycom Industries Trading Up 1.3 %

NYSE DY opened at $147.33 on Wednesday. Dycom Industries, Inc. has a one year low of $78.42 and a one year high of $148.87. The company’s 50 day moving average price is $139.15 and its 200 day moving average price is $117.62. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.85 and a current ratio of 3.06. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.88 and a beta of 1.37.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.15). Dycom Industries had a net margin of 5.24% and a return on equity of 22.06%. The business had revenue of $952.50 million during the quarter, compared to analysts’ expectations of $968.87 million. During the same quarter in the previous year, the business posted $0.83 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that Dycom Industries, Inc. will post 7.14 EPS 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.