Renaissance Technologies LLC Acquires 99,200 Shares of Dycom Industries, Inc. (NYSE:DY)

Renaissance Technologies LLC lifted its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 2,543.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,100 shares of the construction company’s stock after purchasing an additional 99,200 shares during the quarter. Renaissance Technologies LLC owned 0.35% of Dycom Industries worth $17,399,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in DY. Allspring Global Investments Holdings LLC acquired a new stake in shares of Dycom Industries during the 1st quarter worth approximately $28,000. GAMMA Investing LLC boosted its position in Dycom Industries by 107.8% in the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock valued at $49,000 after buying an additional 152 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in Dycom Industries by 5,071.4% in the second quarter. SJS Investment Consulting Inc. now owns 362 shares of the construction company’s stock valued at $61,000 after buying an additional 355 shares in the last quarter. Signaturefd LLC boosted its position in Dycom Industries by 196.7% in the second quarter. Signaturefd LLC now owns 359 shares of the construction company’s stock valued at $61,000 after buying an additional 238 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Dycom Industries in the first quarter valued at approximately $72,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company raised their target price 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. Bank of America raised their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. KeyCorp raised their price target 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. Finally, 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. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $199.57.

Insiders Place Their Bets

In other Dycom Industries news, VP Jason T. Lawson sold 856 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 6,937 shares in the company, valued at approximately $1,210,367.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.28% of the company’s stock.

Dycom Industries Price Performance

Shares of NYSE DY opened at $195.71 on Friday. The company has a market capitalization of $5.69 billion, a PE ratio of 25.22, a P/E/G ratio of 1.96 and a beta of 1.41. The company has a quick ratio of 3.25, a current ratio of 3.44 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. The firm has a fifty day simple moving average of $180.22 and a 200 day simple moving average of $163.97.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business earned $2.03 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. On average, sell-side analysts forecast that Dycom Industries, Inc. will post 8.02 EPS for the current year.

Dycom Industries Company 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.