CenterBook Partners LP Grows Position in Dycom Industries, Inc. $DY

CenterBook Partners LP boosted its position in Dycom Industries, Inc. (NYSE:DY) by 31.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,240 shares of the construction company’s stock after acquiring an additional 1,262 shares during the quarter. CenterBook Partners LP’s holdings in Dycom Industries were worth $1,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peconic Partners LLC raised its holdings in shares of Dycom Industries by 2.8% in the 2nd quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company’s stock valued at $933,038,000 after purchasing an additional 105,586 shares in the last quarter. Bank of America Corp DE raised its stake in Dycom Industries by 4.8% in the second quarter. Bank of America Corp DE now owns 307,545 shares of the construction company’s stock valued at $75,161,000 after buying an additional 14,147 shares in the last quarter. Voya Investment Management LLC lifted its holdings in Dycom Industries by 92.6% during the 3rd quarter. Voya Investment Management LLC now owns 237,576 shares of the construction company’s stock worth $69,315,000 after buying an additional 114,235 shares during the last quarter. Invesco Ltd. boosted its position in shares of Dycom Industries by 7.0% during the 2nd quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock worth $55,508,000 after acquiring an additional 14,891 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Dycom Industries by 19.9% in the 2nd quarter. Franklin Resources Inc. now owns 213,137 shares of the construction company’s stock valued at $52,089,000 after acquiring an additional 35,323 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Insider Transactions at Dycom Industries

In other Dycom Industries news, Director Eitan Gertel sold 3,645 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $345.62, for a total transaction of $1,259,784.90. Following the completion of the transaction, the director owned 15,997 shares in the company, valued at approximately $5,528,883.14. This represents a 18.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.72% of the company’s stock.

Wall Street Analyst Weigh In

DY has been the subject of a number of research analyst reports. DA Davidson upped their price target on Dycom Industries from $300.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, November 20th. JPMorgan Chase & Co. boosted their price objective on shares of Dycom Industries from $370.00 to $395.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Zacks Research downgraded shares of Dycom Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Bank of America lifted their price target on shares of Dycom Industries from $310.00 to $365.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Finally, KeyCorp restated an “overweight” rating on shares of Dycom Industries in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $395.20.

Dycom Industries Stock Performance

NYSE DY opened at $419.34 on Friday. The firm has a market cap of $12.14 billion, a P/E ratio of 41.27, a P/E/G ratio of 1.81 and a beta of 1.36. Dycom Industries, Inc. has a 52-week low of $131.37 and a 52-week high of $445.52. The business’s 50-day moving average price is $368.98 and its 200 day moving average price is $317.00. The company has a quick ratio of 2.90, a current ratio of 3.09 and a debt-to-equity ratio of 0.62.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, November 19th. The construction company reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.48. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Dycom Industries had a return on equity of 22.21% and a net margin of 5.75%.The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm earned $2.68 EPS. On average, equities research analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Dycom Industries Profile

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.