Virtu Financial LLC Acquires New Stake in Dycom Industries, Inc. (NYSE:DY)

Virtu Financial LLC bought a new position in shares of Dycom Industries, Inc. (NYSE:DY) in the fourth quarter, Holdings Channel.com reports. The fund bought 3,765 shares of the construction company’s stock, valued at approximately $433,000.

Other hedge funds have also modified their holdings of the company. State of New Jersey Common Pension Fund D boosted its stake in Dycom Industries by 5.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 24,894 shares of the construction company’s stock worth $2,216,000 after buying an additional 1,274 shares during the last quarter. Deutsche Bank AG boosted its holdings in Dycom Industries by 12.8% in the 3rd quarter. Deutsche Bank AG now owns 15,810 shares of the construction company’s stock valued at $1,407,000 after purchasing an additional 1,791 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Dycom Industries by 32.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 34,932 shares of the construction company’s stock valued at $3,109,000 after buying an additional 8,640 shares during the period. FMR LLC increased its holdings in shares of Dycom Industries by 3.0% during the 3rd quarter. FMR LLC now owns 674,834 shares of the construction company’s stock worth $60,060,000 after buying an additional 19,842 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Dycom Industries by 7.3% during the 3rd quarter. Invesco Ltd. now owns 122,809 shares of the construction company’s stock valued at $10,930,000 after buying an additional 8,316 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DY shares. B. Riley increased their price objective on Dycom Industries from $172.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Bank of America upped their target price on shares of Dycom Industries from $160.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Wells Fargo & Company increased their target price on shares of Dycom Industries from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. KeyCorp upped their price objective on shares of Dycom Industries from $169.00 to $179.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Finally, StockNews.com lowered Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, May 31st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $191.71.

Dycom Industries Price Performance

Shares of DY opened at $168.35 on Wednesday. Dycom Industries, Inc. has a fifty-two week low of $78.42 and a fifty-two week high of $186.47. The firm’s 50 day moving average price is $157.03 and its 200 day moving average price is $134.32. The company has a quick ratio of 2.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.78. The company has a market cap of $4.90 billion, a P/E ratio of 21.69, a PEG ratio of 1.90 and a beta of 1.47.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.73. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the business posted $1.73 earnings per share. Dycom Industries’s revenue was up 9.3% compared to the same quarter last year. On average, research analysts forecast that Dycom Industries, Inc. will post 7.96 earnings per share for the current fiscal year.

Insider Transactions at Dycom Industries

In related news, VP Jason T. Lawson sold 220 shares of Dycom Industries stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $140.27, for a total value of $30,859.40. Following the completion of the transaction, the vice president now owns 7,793 shares in the company, valued at $1,093,124.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.28% of the company’s stock.

Dycom Industries Profile

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.