Tygh Capital Management Inc. Decreases Stake in Dycom Industries, Inc. (DY)

Tygh Capital Management Inc. decreased its stake in Dycom Industries, Inc. (NYSE:DY) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 116,679 shares of the construction company’s stock after selling 2,006 shares during the period. Dycom Industries comprises about 2.4% of Tygh Capital Management Inc.’s portfolio, making the stock its 3rd largest position. Tygh Capital Management Inc. owned approximately 0.38% of Dycom Industries worth $10,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DY. Acrospire Investment Management LLC purchased a new position in Dycom Industries during the first quarter valued at approximately $121,000. GW&K Investment Management LLC purchased a new position in Dycom Industries during the second quarter valued at approximately $2,988,000. EULAV Asset Management purchased a new position in Dycom Industries during the first quarter valued at approximately $1,162,000. James Investment Research Inc. purchased a new position in Dycom Industries during the second quarter valued at approximately $1,905,000. Finally, Vanguard Group Inc. raised its position in Dycom Industries by 4.6% in the first quarter. Vanguard Group Inc. now owns 2,437,127 shares of the construction company’s stock valued at $226,531,000 after buying an additional 106,817 shares during the last quarter.

Dycom Industries, Inc. (NYSE DY) traded down 0.91% during mid-day trading on Thursday, hitting $77.19. The stock had a trading volume of 146,733 shares. Dycom Industries, Inc. has a one year low of $70.33 and a one year high of $110.64. The company has a market cap of $2.40 billion, a PE ratio of 15.18 and a beta of 1.18. The firm’s 50-day moving average price is $86.65 and its 200 day moving average price is $91.75.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, May 24th. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.11. Dycom Industries had a return on equity of 28.96% and a net margin of 5.30%. The firm had revenue of $786.30 million during the quarter, compared to the consensus estimate of $736.20 million. During the same quarter in the previous year, the business earned $1.08 earnings per share. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, equities research analysts anticipate that Dycom Industries, Inc. will post $5.23 EPS for the current year.

DY has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. ValuEngine lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. BidaskClub lowered shares of Dycom Industries from a “hold” rating to a “sell” rating in a research note on Tuesday. DA Davidson reaffirmed a “neutral” rating and set a $97.00 price objective (down from $105.00) on shares of Dycom Industries in a research note on Sunday, May 28th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $52.00 target price on shares of Dycom Industries in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Dycom Industries currently has a consensus rating of “Buy” and an average price target of $102.09.

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 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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