Redwood Investments LLC increased its stake in shares of Dycom Industries Inc. (NYSE:DY) by 27.2% during the second quarter, Holdings Channel reports. The institutional investor owned 88,375 shares of the company’s stock after buying an additional 18,899 shares during the period. Redwood Investments LLC’s holdings in Dycom Industries were worth $7,933,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of DY. Bank of Montreal Can bought a new stake in Dycom Industries during the second quarter valued at approximately $18,977,000. Clovis Capital Management LP bought a new stake in Dycom Industries during the first quarter valued at approximately $9,649,000. Rice Hall James & Associates LLC bought a new stake in Dycom Industries during the second quarter valued at approximately $11,078,000. Arrowgrass Capital Partners US LP boosted its stake in Dycom Industries by 146.4% in the first quarter. Arrowgrass Capital Partners US LP now owns 125,630 shares of the company’s stock valued at $8,124,000 after buying an additional 74,652 shares in the last quarter. Finally, Monarch Partners Asset Management LLC boosted its stake in Dycom Industries by 25.6% in the second quarter. Monarch Partners Asset Management LLC now owns 297,272 shares of the company’s stock valued at $26,683,000 after buying an additional 60,505 shares in the last quarter.
Dycom Industries Inc. (NYSE:DY) traded up 3.72% on Tuesday, hitting $85.25. 703,976 shares of the stock traded hands. The stock has a 50 day moving average of $83.79 and a 200 day moving average of $80.71. Dycom Industries Inc. has a 52 week low of $47.10 and a 52 week high of $98.45. The firm has a market capitalization of $2.68 billion, a PE ratio of 21.92 and a beta of 1.47.
Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Tuesday, August 23rd. The company reported $1.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.09. Dycom Industries had a net margin of 4.82% and a return on equity of 27.39%. The company earned $789.16 million during the quarter, compared to analysts’ expectations of $770.66 million. During the same period in the prior year, the company posted $0.97 earnings per share. Dycom Industries’s revenue for the quarter was up 36.4% compared to the same quarter last year. Equities research analysts anticipate that Dycom Industries Inc. will post $5.37 earnings per share for the current year.
Several equities research analysts recently commented on DY shares. Vetr raised shares of Dycom Industries from a “hold” rating to a “buy” rating and set a $90.92 price objective on the stock in a research report on Monday, August 15th. FBR & Co lifted their price target on shares of Dycom Industries from $115.00 to $121.00 and gave the company an “outperform” rating in a research note on Thursday, August 25th. Zacks Investment Research lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. Wells Fargo & Co. reiterated a “buy” rating on shares of Dycom Industries in a research note on Wednesday, September 28th. Finally, DA Davidson set a $110.00 price target on shares of Dycom Industries and gave the company a “buy” rating in a research note on Monday, August 22nd. Two research analysts have rated the stock with a hold rating, seven have given 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 a consensus price target of $98.57.
In related news, CAO Rebecca Brightly Roach sold 1,000 shares of the stock in a transaction on Friday, July 8th. The shares were sold at an average price of $94.37, for a total transaction of $94,370.00. Following the transaction, the chief accounting officer now directly owns 8,534 shares of the company’s stock, valued at $805,353.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard B. Vilsoet sold 28,642 shares of the stock in a transaction on Friday, July 8th. The stock was sold at an average price of $93.56, for a total transaction of $2,679,745.52. Following the transaction, the vice president now directly owns 49,307 shares in the company, valued at $4,613,162.92. The disclosure for this sale can be found here. Insiders own 4.96% of the company’s stock.
Dycom Industries Company Profile
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including telecommunications providers, and other construction and maintenance services to electric and gas utilities.
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