Virginia Retirement Systems ET AL bought a new position in shares of Dycom Industries Inc. (NYSE:DY) during the second quarter, Holdings Channel reports. The institutional investor bought 19,000 shares of the company’s stock, valued at approximately $1,705,000. Virginia Retirement Systems ET AL owned approximately 0.06% of Dycom Industries at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Peconic Partners LLC boosted its position in Dycom Industries by 1.0% in the first quarter. Peconic Partners LLC now owns 1,924,997 shares of the company’s stock worth $124,490,000 after buying an additional 20,000 shares during the last quarter. Stephens Inc. AR acquired a new position in Dycom Industries during the second quarter worth approximately $3,439,000. Envestnet Asset Management Inc. boosted its position in Dycom Industries by 7.1% in the first quarter. Envestnet Asset Management Inc. now owns 45,792 shares of the company’s stock worth $2,961,000 after buying an additional 3,046 shares during the last quarter. BlackRock Group LTD boosted its position in Dycom Industries by 7.2% in the first quarter. BlackRock Group LTD now owns 51,782 shares of the company’s stock worth $3,349,000 after buying an additional 3,474 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its position in Dycom Industries by 187.8% in the second quarter. Moody Aldrich Partners LLC now owns 31,475 shares of the company’s stock worth $2,825,000 after buying an additional 20,540 shares during the last quarter.
Shares of Dycom Industries Inc. (NYSE:DY) opened at 81.97 on Monday. The firm has a market capitalization of $2.58 billion, a P/E ratio of 21.07 and a beta of 1.56. The stock has a 50 day moving average of $85.29 and a 200-day moving average of $79.36. Dycom Industries Inc. has a 52-week low of $47.10 and a 52-week high of $98.45.
Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Tuesday, August 23rd. The company reported $1.64 earnings per share (EPS) 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 analyst estimates of $770.66 million. During the same quarter last year, the business posted $0.97 EPS. Dycom Industries’s quarterly revenue was up 36.4% compared to the same quarter last year. Equities analysts expect that Dycom Industries Inc. will post $5.37 earnings per share for the current fiscal year.
DY has been the subject of a number of research analyst reports. Stifel Nicolaus restated a “buy” rating on shares of Dycom Industries in a report on Sunday, August 28th. Vetr upgraded Dycom Industries from a “sell” rating to a “hold” rating and set a $89.92 price objective for the company in a report on Tuesday, August 2nd. Zacks Investment Research cut Dycom Industries from a “buy” rating to a “hold” rating in a report on Monday, August 29th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Dycom Industries in a report on Sunday, June 5th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Dycom Industries has a consensus rating of “Buy” and an average target price of $98.57.
In related news, VP Kimberly L. Dickens sold 1,661 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $95.87, for a total value of $159,240.07. Following the completion of the transaction, the vice president now directly owns 5,439 shares of the company’s stock, valued at approximately $521,436.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO H Andrew Deferrari sold 9,147 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $95.99, for a total transaction of $878,020.53. Following the completion of the transaction, the chief financial officer now directly owns 103,168 shares of the company’s stock, valued at $9,903,096.32. 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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