Oppenheimer Asset Management Inc. Has $1.10 Million Position in Dycom Industries, Inc. (NYSE:DY)

Oppenheimer Asset Management Inc. lowered its position in Dycom Industries, Inc. (NYSE:DY) by 11.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,224 shares of the construction company’s stock after selling 893 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Dycom Industries were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in DY. Smartleaf Asset Management LLC increased its position in Dycom Industries by 209.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company’s stock valued at $68,000 after acquiring an additional 264 shares during the period. SG Americas Securities LLC acquired a new stake in Dycom Industries in the first quarter valued at $342,000. Public Employees Retirement System of Ohio increased its holdings in Dycom Industries by 105.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the construction company’s stock valued at $194,000 after purchasing an additional 572 shares during the period. J. Goldman & Co LP increased its stake in shares of Dycom Industries by 25.4% in the fourth quarter. J. Goldman & Co LP now owns 90,253 shares of the construction company’s stock valued at $15,709,000 after buying an additional 18,289 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in shares of Dycom Industries by 8.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,190 shares of the construction company’s stock valued at $729,000 after buying an additional 324 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Performance

Shares of DY stock opened at $245.46 on Friday. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 1.40 and a beta of 1.32. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $245.82. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $209.17 and a 200-day moving average of $183.20.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.47. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Dycom Industries had a net margin of 4.81% and a return on equity of 20.04%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $2.12 earnings per share. On average, equities analysts forecast that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DY shares. Raymond James Financial increased their price target on Dycom Industries from $215.00 to $255.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. increased their target price on shares of Dycom Industries from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, May 22nd. Wells Fargo & Company increased their price objective on shares of Dycom Industries from $215.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. KeyCorp decreased their price objective on shares of Dycom Industries from $201.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, B. Riley increased their price objective on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $241.25.

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.