Eagle Asset Management Inc. Takes $13.14 Million Position in Dycom Industries, Inc. (NYSE:DY)

Eagle Asset Management Inc. purchased a new position in Dycom Industries, Inc. (NYSE:DY) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 69,312 shares of the construction company’s stock, valued at approximately $13,144,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Dycom Industries by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock worth $458,728,000 after purchasing an additional 12,395 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Dycom Industries during the 1st quarter worth $250,000. CANADA LIFE ASSURANCE Co boosted its stake in Dycom Industries by 7.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 25,582 shares of the construction company’s stock valued at $3,672,000 after buying an additional 1,860 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Dycom Industries by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,770 shares of the construction company’s stock valued at $3,269,000 after acquiring an additional 1,052 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Dycom Industries by 168.5% during the first quarter. Janus Henderson Group PLC now owns 36,835 shares of the construction company’s stock worth $5,287,000 after acquiring an additional 23,117 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DY. B. Riley raised their target price on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company boosted their price objective on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. DA Davidson reissued a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. KeyCorp upped their price objective on Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Bank of America lifted their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $206.13.

Dycom Industries Price Performance

Shares of NYSE DY opened at $180.30 on Friday. The company has a current ratio of 3.12, a quick ratio of 3.25 and a debt-to-equity ratio of 0.89. The firm’s 50-day moving average price is $189.27 and its 200-day moving average price is $179.07. The firm has a market capitalization of $5.25 billion, a P/E ratio of 23.72, a P/E/G ratio of 1.52 and a beta of 1.44. Dycom Industries, Inc. has a 1-year low of $99.54 and a 1-year high of $207.20.

Dycom Industries (NYSE:DY) last announced 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. The business 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 20.99% and a net margin of 4.91%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.03 earnings per share. Equities research analysts anticipate that Dycom Industries, Inc. will post 7.96 earnings per share for the current fiscal year.

About Dycom Industries

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.