DRW Securities LLC Purchases Shares of 12,500 Dycom Industries, Inc. (NYSE:DY)

DRW Securities LLC acquired a new position in shares of Dycom Industries, Inc. (NYSE:DY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,500 shares of the construction company’s stock, valued at approximately $2,110,000.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE increased its position in Dycom Industries by 109.3% during the fourth quarter. US Bancorp DE now owns 14,623 shares of the construction company’s stock worth $1,683,000 after buying an additional 7,638 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Dycom Industries by 33.1% during the first quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company’s stock worth $4,630,000 after purchasing an additional 8,028 shares during the period. Sheets Smith Wealth Management increased its holdings in shares of Dycom Industries by 100.0% in the first quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock valued at $1,009,000 after purchasing an additional 3,514 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Dycom Industries by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock valued at $366,406,000 after purchasing an additional 42,121 shares during the period. Finally, Peconic Partners LLC raised its position in shares of Dycom Industries by 0.7% in the fourth quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock valued at $375,847,000 after purchasing an additional 21,635 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DY shares. KeyCorp upped their price target on shares of Dycom Industries from $195.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. B. Riley upped their target price on Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company lifted their price target on Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. StockNews.com lowered Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Bank of America lifted their target price on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. 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 company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $199.57.

Dycom Industries Price Performance

Dycom Industries stock opened at $195.71 on Friday. The firm has a market cap of $5.69 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25. The stock’s fifty day moving average price is $180.22 and its two-hundred day moving average price is $163.97. Dycom Industries, Inc. has a one year low of $78.42 and a one year high of $197.37.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business earned $2.03 earnings per share. Dycom Industries’s revenue was up 15.5% on a year-over-year basis. As a group, research analysts expect that Dycom Industries, Inc. will post 8.02 EPS for the current fiscal year.

Insider Activity

In related news, VP Jason T. Lawson sold 856 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $174.48, for a total transaction of $149,354.88. Following the sale, the vice president now owns 6,937 shares in the company, valued at approximately $1,210,367.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.28% of the company’s stock.

About Dycom Industries

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.