Verition Fund Management LLC increased its position in shares of Dycom Industries, Inc. (NYSE:DY) by 343.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,997 shares of the construction company’s stock after purchasing an additional 39,484 shares during the quarter. Verition Fund Management LLC owned 0.16% of Dycom Industries worth $4,565,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its position in Dycom Industries by 7.6% during the second quarter. Sterling Capital Management LLC now owns 26,240 shares of the construction company’s stock worth $2,349,000 after purchasing an additional 1,850 shares during the period. Castleark Management LLC bought a new stake in Dycom Industries during the second quarter worth about $10,984,000. Argent Capital Management LLC bought a new stake in Dycom Industries during the second quarter worth about $376,000. Tower Research Capital LLC TRC lifted its position in Dycom Industries by 257.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,146 shares of the construction company’s stock worth $192,000 after purchasing an additional 1,546 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Dycom Industries by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 68,127 shares of the construction company’s stock worth $6,099,000 after purchasing an additional 177 shares during the period.
Dycom Industries, Inc. (NYSE DY) traded down 0.98% on Friday, hitting $82.86. 136,753 shares of the stock were exchanged. Dycom Industries, Inc. has a 52-week low of $70.33 and a 52-week high of $110.64. The firm has a market cap of $2.58 billion, a PE ratio of 16.84 and a beta of 1.29. The company has a 50-day moving average price of $81.69 and a 200-day moving average price of $90.28.
Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, August 30th. The construction company reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.03. The firm had revenue of $780.20 million during the quarter, compared to the consensus estimate of $798.62 million. Dycom Industries had a return on equity of 26.68% and a net margin of 5.13%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the company posted $1.64 EPS. On average, equities research analysts anticipate that Dycom Industries, Inc. will post $4.36 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the stock. FBR & Co upped their price objective on shares of Dycom Industries from $98.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, August 30th. BidaskClub raised shares of Dycom Industries from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. KeyCorp raised shares of Dycom Industries from a “sector weight” rating to an “overweight” rating and set a $87.00 target price for the company in a report on Wednesday, August 30th. Canaccord Genuity dropped their target price on shares of Dycom Industries from $120.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, August 31st. Finally, Craig Hallum reissued a “buy” rating and issued a $90.00 target price (down previously from $115.00) on shares of Dycom Industries in a report on Thursday, August 31st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Dycom Industries has an average rating of “Buy” and an average target price of $102.71.
Dycom Industries Company Profile
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
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