Wells Fargo & Company MN trimmed its holdings in Dycom Industries, Inc. (NYSE:DY) by 26.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 698,357 shares of the construction company’s stock after selling 245,188 shares during the quarter. Wells Fargo & Company MN owned 2.25% of Dycom Industries worth $62,517,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Pacad Investment Ltd. lifted its stake in Dycom Industries by 71.4% during the second quarter. Pacad Investment Ltd. now owns 1,200 shares of the construction company’s stock valued at $107,000 after buying an additional 500 shares in the last quarter. Capstone Asset Management Co. purchased a new stake in Dycom Industries during the first quarter valued at about $219,000. Sigma Planning Corp purchased a new stake in Dycom Industries during the second quarter valued at about $211,000. TrueNorth Inc. purchased a new stake in Dycom Industries during the first quarter valued at about $220,000. Finally, LS Investment Advisors LLC lifted its stake in Dycom Industries by 16.0% during the second quarter. LS Investment Advisors LLC now owns 2,439 shares of the construction company’s stock valued at $218,000 after buying an additional 337 shares in the last quarter.
DY has been the subject of a number of analyst reports. FBR & Co reaffirmed an “outperform” rating and set a $112.00 price objective (down from $120.00) on shares of Dycom Industries in a research note on Thursday, May 25th. ValuEngine raised shares of Dycom Industries from a “hold” rating to a “buy” rating in a research note on Thursday, May 25th. Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 price objective on shares of Dycom Industries in a research note on Thursday, May 25th. Zacks Investment Research lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $105.29.
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Shares of Dycom Industries, Inc. (NYSE:DY) opened at 79.04 on Friday. Dycom Industries, Inc. has a 52-week low of $70.33 and a 52-week high of $110.64. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 16.07 and a beta of 1.26. The stock has a 50 day moving average of $81.82 and a 200-day moving average of $91.61.
Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, August 30th. The construction company reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The company had revenue of $780.20 million during the quarter, compared to analyst estimates of $798.62 million. Dycom Industries had a return on equity of 26.68% and a net margin of 5.13%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 EPS. On average, equities research analysts predict that Dycom Industries, Inc. will post $4.37 EPS for the current fiscal year.
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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