Dycom Industries (NYSE:DY) Posts Quarterly Earnings Results, Beats Expectations By $1.03 EPS

Dycom Industries (NYSE:DY – Get Rating) released its quarterly earnings data on Wednesday. The construction company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $1.03, Briefing.com reports. Dycom Industries had a return on equity of 16.43% and a net margin of 3.73%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $940.22 million. During the same period in the prior year, the firm posted $0.51 earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis.

Dycom Industries Stock Down 3.3 %

Shares of NYSE:DY opened at $97.02 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.18 and a quick ratio of 2.93. The firm has a market capitalization of $2.85 billion, a PE ratio of 20.47 and a beta of 1.30. The firm’s 50-day moving average is $93.74 and its two-hundred day moving average is $93.63. Dycom Industries has a 1 year low of $77.33 and a 1 year high of $122.13.

Insiders Place Their Bets

In other Dycom Industries news, CFO H Andrew Deferrari sold 10,282 shares of the business’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $94.11, for a total transaction of $967,639.02. Following the sale, the chief financial officer now directly owns 148,425 shares in the company, valued at $13,968,276.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Ryan F. Urness sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $94.90, for a total transaction of $313,170.00. Following the sale, the vice president now directly owns 26,242 shares in the company, valued at $2,490,365.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO H Andrew Deferrari sold 10,282 shares of the company’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $94.11, for a total transaction of $967,639.02. Following the sale, the chief financial officer now owns 148,425 shares in the company, valued at $13,968,276.75. The disclosure for this sale can be found here. Insiders own 4.25% of the company’s stock.

Institutional Trading of Dycom Industries

A number of large investors have recently made changes to their positions in DY. Rockefeller Capital Management L.P. boosted its holdings in Dycom Industries by 114.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 490 shares of the construction company’s stock valued at $45,000 after purchasing an additional 261 shares in the last quarter. SkyView Investment Advisors LLC acquired a new position in Dycom Industries in the first quarter valued at approximately $173,000. Captrust Financial Advisors boosted its holdings in Dycom Industries by 61.8% in the first quarter. Captrust Financial Advisors now owns 1,974 shares of the construction company’s stock valued at $188,000 after purchasing an additional 754 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in Dycom Industries by 32.2% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,023 shares of the construction company’s stock valued at $190,000 after purchasing an additional 493 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in Dycom Industries in the first quarter valued at approximately $210,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DY has been the subject of a number of research analyst reports. UBS Group increased their price target on Dycom Industries from $124.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, March 2nd. StockNews.com assumed coverage on shares of Dycom Industries in a research note on Thursday, May 18th. They set a “buy” rating for the company. Wells Fargo & Company raised shares of Dycom Industries from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $105.00 to $120.00 in a research note on Thursday. Finally, Craig Hallum increased their price objective on shares of Dycom Industries from $110.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $128.80.

Dycom Industries Company Profile

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Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.