Cetera Investment Advisers Makes New Investment in Dycom Industries, Inc. $DY

Cetera Investment Advisers bought a new position in Dycom Industries, Inc. (NYSE:DY) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,539 shares of the construction company’s stock, valued at approximately $387,000.

A number of other large investors have also added to or reduced their stakes in DY. Envestnet Asset Management Inc. raised its position in shares of Dycom Industries by 5.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 19,828 shares of the construction company’s stock valued at $3,451,000 after purchasing an additional 938 shares during the last quarter. Cerity Partners LLC raised its position in shares of Dycom Industries by 19.3% in the 4th quarter. Cerity Partners LLC now owns 2,242 shares of the construction company’s stock valued at $417,000 after purchasing an additional 363 shares during the last quarter. Mariner LLC raised its position in shares of Dycom Industries by 31.0% in the 4th quarter. Mariner LLC now owns 1,916 shares of the construction company’s stock valued at $334,000 after purchasing an additional 453 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Dycom Industries in the 4th quarter valued at approximately $360,000. Finally, Marshall Wace LLP purchased a new position in shares of Dycom Industries in the 4th quarter valued at approximately $1,314,000. 98.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Raymond James Financial increased their price target on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 22nd. DA Davidson increased their target price on Dycom Industries from $220.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. KeyCorp increased their target price on Dycom Industries from $255.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Wells Fargo & Company increased their target price on Dycom Industries from $250.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday. Finally, B. Riley increased their target price on Dycom Industries from $200.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $264.63.

Dycom Industries Stock Up 1.4%

NYSE DY opened at $273.11 on Tuesday. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $285.64. 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 business’s fifty day simple moving average is $253.79 and its 200-day simple moving average is $203.38. The firm has a market cap of $7.90 billion, a PE ratio of 34.61, a P/E/G ratio of 1.54 and a beta of 1.34.

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

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.