MQS Management LLC Makes New $214,000 Investment in Dycom Industries, Inc. (NYSE:DY)

MQS Management LLC bought a new stake in shares of Dycom Industries, Inc. (NYSE:DY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,268 shares of the construction company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank bought a new position in Dycom Industries during the 4th quarter worth $33,679,000. Assenagon Asset Management S.A. grew its position in shares of Dycom Industries by 2,353.9% during the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock worth $26,831,000 after acquiring an additional 152,509 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Dycom Industries by 2,543.6% in the 2nd quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company’s stock worth $17,399,000 after acquiring an additional 99,200 shares during the period. Appian Way Asset Management LP lifted its position in Dycom Industries by 84.2% in the 1st quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company’s stock valued at $28,328,000 after purchasing an additional 90,198 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Dycom Industries by 36.3% during 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 period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Jason T. Lawson sold 856 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $174.48, for a total transaction of $149,354.88. Following the sale, the vice president now directly owns 6,937 shares of the company’s stock, valued at $1,210,367.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.28% of the company’s stock.

Dycom Industries Price Performance

Shares of NYSE DY opened at $195.71 on Friday. The firm has a 50-day moving average of $180.22 and a two-hundred day moving average of $163.97. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.96 and a beta of 1.41. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. Dycom Industries, Inc. has a twelve month low of $78.42 and a twelve month high of $197.37.

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

Analysts Set New Price Targets

Several equities research analysts have commented on DY shares. B. Riley raised their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Bank of America lifted their target price on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. StockNews.com cut Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their price objective on shares of Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, KeyCorp raised their target price on shares of Dycom Industries from $195.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $199.57.

About Dycom Industries

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.