Acadian Asset Management LLC Invests $1.19 Million in Dycom Industries, Inc. (NYSE:DY)

Acadian Asset Management LLC purchased a new stake in shares of Dycom Industries, Inc. (NYSE:DY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,070 shares of the construction company’s stock, valued at approximately $1,191,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Dycom Industries in the fourth quarter worth about $33,679,000. Assenagon Asset Management S.A. increased its position in shares of Dycom Industries by 2,353.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock valued at $26,831,000 after buying an additional 152,509 shares in the last quarter. Appian Way Asset Management LP increased its holdings in Dycom Industries by 84.2% during the 1st quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company’s stock worth $28,328,000 after purchasing an additional 90,198 shares in the last quarter. First Trust Advisors LP lifted its stake in Dycom Industries by 36.3% in the 4th quarter. First Trust Advisors LP now owns 271,782 shares of the construction company’s stock valued at $31,279,000 after purchasing an additional 72,415 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Dycom Industries by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock worth $366,406,000 after acquiring an additional 42,121 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DY shares. Raymond James lifted their price target on shares of Dycom Industries from $143.00 to $195.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 23rd. B. Riley increased their target price on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Bank of America increased their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted their price target on shares of Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Craig Hallum lifted their price target on shares of Dycom Industries from $145.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $199.57.

Dycom Industries Trading Up 0.2 %

DY opened at $184.74 on Monday. The firm’s fifty day moving average price is $178.40 and its 200 day moving average price is $161.77. The stock has a market capitalization of $5.37 billion, a PE ratio of 23.81, a P/E/G ratio of 1.96 and a beta of 1.41. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25. Dycom Industries, Inc. has a 12-month low of $78.42 and a 12-month high of $196.34.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.20. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.03 earnings per share. As a group, research analysts expect that Dycom Industries, Inc. will post 8.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dycom Industries news, VP Jason T. Lawson sold 856 shares of Dycom Industries stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $174.48, for a total value of $149,354.88. Following the transaction, the vice president now owns 6,937 shares in the company, valued at $1,210,367.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.28% of the company’s stock.

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.