Appian Way Asset Management LP Has $29.09 Million Holdings in Dycom Industries, Inc. (NYSE:DY)

Appian Way Asset Management LP lessened its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 12.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 172,344 shares of the construction company’s stock after selling 25,020 shares during the quarter. Dycom Industries comprises approximately 7.4% of Appian Way Asset Management LP’s holdings, making the stock its 6th largest position. Appian Way Asset Management LP owned about 0.59% of Dycom Industries worth $29,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DY. Evergreen Capital Management LLC acquired a new stake in Dycom Industries in the 2nd quarter valued at $216,000. Public Sector Pension Investment Board grew its holdings in shares of Dycom Industries by 6.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 63,984 shares of the construction company’s stock worth $10,798,000 after purchasing an additional 3,848 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of Dycom Industries during the 2nd quarter worth about $2,110,000. Envoi LLC lifted its holdings in Dycom Industries by 28.4% during the 2nd quarter. Envoi LLC now owns 13,653 shares of the construction company’s stock valued at $2,304,000 after purchasing an additional 3,016 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Dycom Industries by 9.6% in the second quarter. Canada Pension Plan Investment Board now owns 16,000 shares of the construction company’s stock valued at $2,700,000 after buying an additional 1,408 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Trading Up 0.9 %

Shares of NYSE DY opened at $197.41 on Tuesday. Dycom Industries, Inc. has a fifty-two week low of $78.42 and a fifty-two week high of $199.77. The firm has a market capitalization of $5.74 billion, a P/E ratio of 25.44, 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. The company’s 50 day simple moving average is $180.61 and its 200 day simple moving average is $164.60.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Bank of America raised their price target on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a report on Friday, August 23rd. B. Riley upped their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company raised their price objective 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. KeyCorp upped their target price on shares of Dycom Industries from $195.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, StockNews.com cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $199.57.

Insider Transactions at Dycom Industries

In related news, VP Jason T. Lawson sold 856 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $174.48, for a total value of $149,354.88. Following the sale, the vice president now directly owns 6,937 shares in the company, valued at approximately $1,210,367.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.