Bornite Capital Management LP Buys Shares of 150,000 Dycom Industries, Inc. $DY

Bornite Capital Management LP purchased a new position in shares of Dycom Industries, Inc. (NYSE:DY) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 150,000 shares of the construction company’s stock, valued at approximately $43,764,000. Dycom Industries comprises 4.1% of Bornite Capital Management LP’s holdings, making the stock its 9th biggest position.

Other large investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Dycom Industries in the 3rd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Dycom Industries in the second quarter worth about $32,000. Salomon & Ludwin LLC purchased a new position in shares of Dycom Industries in the third quarter worth about $37,000. UMB Bank n.a. raised its position in shares of Dycom Industries by 57.3% in the third quarter. UMB Bank n.a. now owns 129 shares of the construction company’s stock valued at $38,000 after purchasing an additional 47 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Dycom Industries by 73.1% in the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Trading Down 2.1%

Shares of DY stock opened at $413.68 on Thursday. The company has a market capitalization of $11.98 billion, a PE ratio of 40.72, a price-to-earnings-growth ratio of 1.85 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 fifty day moving average is $367.88 and its 200 day moving average is $316.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.90 and a current ratio of 3.09.

Dycom Industries (NYSE:DY) last announced its earnings results 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. Dycom Industries had a return on equity of 22.21% and a net margin of 5.75%.The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company earned $2.68 EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, equities research analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Insider Activity at Dycom Industries

In related news, Director Eitan Gertel sold 3,645 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $345.62, for a total value of $1,259,784.90. Following the transaction, the director directly owned 15,997 shares in the company, valued at approximately $5,528,883.14. This represents a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on DY shares. Bank of America raised their price objective on shares of Dycom Industries from $310.00 to $365.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Wells Fargo & Company increased their target price on Dycom Industries from $315.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Vertical Research began coverage on Dycom Industries in a report on Tuesday, December 23rd. They issued a “buy” rating and a $420.00 price target for the company. Zacks Research lowered Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Wall Street Zen raised Dycom Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Dycom Industries has an average rating of “Buy” and a consensus price target of $395.20.

Dycom Industries Company 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.