DRW Securities LLC Makes New Investment in Dycom Industries, Inc. (NYSE:DY)

DRW Securities LLC acquired a new stake in Dycom Industries, Inc. (NYSE:DY) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 12,500 shares of the construction company’s stock, valued at approximately $2,110,000.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in Dycom Industries during the 1st quarter worth about $28,000. GAMMA Investing LLC raised its stake in shares of Dycom Industries by 107.8% during the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock worth $49,000 after buying an additional 152 shares during the last quarter. SJS Investment Consulting Inc. lifted its holdings 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 during the period. Signaturefd LLC lifted its holdings 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 during the period. Finally, Headlands Technologies LLC bought a new position in Dycom Industries in the first quarter valued at approximately $72,000. 98.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Bank of America increased their price target on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Wells Fargo & Company raised their target price on Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. KeyCorp upped their price target on Dycom Industries from $195.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. B. Riley lifted their price objective 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. Finally, StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. One 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $199.57.

Insiders Place Their Bets

In related news, VP Jason T. Lawson sold 856 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now owns 6,937 shares of the company’s stock, valued at $1,210,367.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 4.28% of the company’s stock.

Dycom Industries Stock Performance

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

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

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.