Prudential Financial Inc. raised its position in Dycom Industries, Inc. (NYSE:DY) by 7.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,190 shares of the construction company’s stock after buying an additional 1,410 shares during the period. Prudential Financial Inc.’s holdings in Dycom Industries were worth $1,970,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. KBC Group NV boosted its stake in shares of Dycom Industries by 101.3% in the first quarter. KBC Group NV now owns 109,735 shares of the construction company’s stock worth $10,200,000 after buying an additional 55,212 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Dycom Industries during the first quarter worth about $2,249,000. Nordea Investment Management AB increased its position in shares of Dycom Industries by 14.0% in the first quarter. Nordea Investment Management AB now owns 15,879 shares of the construction company’s stock worth $1,476,000 after buying an additional 1,949 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Dycom Industries by 3.2% in the first quarter. Envestnet Asset Management Inc. now owns 42,243 shares of the construction company’s stock valued at $3,927,000 after buying an additional 1,294 shares during the period. Finally, Mason Street Advisors LLC increased its position in Dycom Industries by 1.1% in the first quarter. Mason Street Advisors LLC now owns 14,844 shares of the construction company’s stock valued at $1,380,000 after buying an additional 158 shares during the period.
Shares of Dycom Industries, Inc. (NYSE:DY) opened at 91.73 on Monday. The stock’s 50 day moving average is $93.16 and its 200-day moving average is $89.91. Dycom Industries, Inc. has a 1-year low of $70.33 and a 1-year high of $110.64. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 18.04 and a beta of 1.19.
Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, May 24th. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.11. The firm had revenue of $786.30 million during the quarter, compared to analysts’ expectations of $736.20 million. Dycom Industries had a return on equity of 28.96% and a net margin of 5.30%. The company’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. On average, analysts anticipate that Dycom Industries, Inc. will post $5.23 EPS for the current year.
Several research firms have weighed in on DY. FBR & Co restated an “outperform” rating on shares of Dycom Industries in a report on Monday, June 19th. BidaskClub raised shares of Dycom Industries from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. ValuEngine cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. DA Davidson reaffirmed a “neutral” rating and set a $97.00 price target (down from $105.00) on shares of Dycom Industries in a research note on Sunday, May 28th. Finally, Zacks Investment Research cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Dycom Industries presently has a consensus rating of “Buy” and an average target price of $102.09.
About Dycom Industries
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
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