Emerald Advisers Inc. PA acquired a new position in Dycom Industries Inc. (NYSE:DY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 205,144 shares of the company’s stock, valued at approximately $18,414,000.
Several other institutional investors also recently added to or reduced their stakes in the company. Financial Architects Inc boosted its position in Dycom Industries by 1,266.3% in the second quarter. Financial Architects Inc now owns 1,339 shares of the company’s stock worth $120,000 after buying an additional 1,241 shares during the period. Foundry Partners LLC bought a new position in Dycom Industries during the second quarter worth about $247,000. Concorde Asset Management LLC bought a new position in Dycom Industries during the second quarter worth about $256,000. Rehmann Capital Advisory Group bought a new position in Dycom Industries during the second quarter worth about $269,000. Finally, M&T Bank Corp boosted its position in Dycom Industries by 1.0% in the first quarter. M&T Bank Corp now owns 4,351 shares of the company’s stock worth $281,000 after buying an additional 41 shares during the period.
Dycom Industries Inc. (NYSE:DY) traded up 3.81% during trading on Tuesday, hitting $85.32. 526,458 shares of the company’s stock traded hands. The company’s 50 day moving average is $83.79 and its 200-day moving average is $80.71. Dycom Industries Inc. has a 12 month low of $47.10 and a 12 month high of $98.45. The stock has a market cap of $2.68 billion, a P/E ratio of 21.93 and a beta of 1.47.
Dycom Industries (NYSE:DY) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.09. Dycom Industries had a net margin of 4.82% and a return on equity of 27.39%. The firm had revenue of $789.16 million for the quarter, compared to analysts’ expectations of $770.66 million. During the same quarter in the previous year, the company earned $0.97 earnings per share. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, analysts predict that Dycom Industries Inc. will post $5.37 earnings per share for the current year.
A number of equities analysts have recently issued reports on DY shares. Vetr raised shares of Dycom Industries from a “hold” rating to a “buy” rating and set a $98.88 price objective on the stock in a research report on Tuesday, August 23rd. DA Davidson set a $110.00 price objective on shares of Dycom Industries and gave the stock a “buy” rating in a research report on Monday, August 22nd. Zacks Investment Research raised shares of Dycom Industries from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Thursday, August 25th. Stifel Nicolaus reissued a “buy” rating on shares of Dycom Industries in a research report on Sunday, August 28th. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of Dycom Industries in a research report on Wednesday, September 28th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $98.57.
In related news, CAO Rebecca Brightly Roach sold 1,000 shares of the business’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $94.37, for a total transaction of $94,370.00. Following the transaction, the chief accounting officer now owns 8,534 shares in the company, valued at $805,353.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO H Andrew Deferrari sold 9,147 shares of the business’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $95.99, for a total transaction of $878,020.53. Following the transaction, the chief financial officer now owns 103,168 shares in the company, valued at approximately $9,903,096.32. The disclosure for this sale can be found here. Corporate insiders own 4.96% of the company’s stock.
About Dycom Industries
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including telecommunications providers, and other construction and maintenance services to electric and gas utilities.
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