Susquehanna Fundamental Investments LLC Makes New $979,000 Investment in Dycom Industries, Inc. (NYSE:DY)

Susquehanna Fundamental Investments LLC acquired a new stake in Dycom Industries, Inc. (NYSE:DY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,800 shares of the construction company’s stock, valued at approximately $979,000.

A number of other hedge funds have also recently made changes to their positions in the business. Millennium Management LLC raised its stake in Dycom Industries by 6.3% during the 2nd quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock valued at $275,324,000 after purchasing an additional 96,846 shares during the period. Dark Forest Capital Management LP purchased a new stake in Dycom Industries during the 2nd quarter valued at approximately $909,000. AXA S.A. raised its position in shares of Dycom Industries by 279.5% during the second quarter. AXA S.A. now owns 5,692 shares of the construction company’s stock valued at $961,000 after buying an additional 4,192 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new position in shares of Dycom Industries in the second quarter worth $452,000. Finally, Evergreen Capital Management LLC bought a new position in shares of Dycom Industries during the second quarter worth $216,000. Institutional investors own 98.33% of the company’s stock.

Analysts Set New Price Targets

DY has been the topic of several research analyst reports. KeyCorp boosted their price target on shares of Dycom Industries from $195.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company raised their price target on Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Bank of America upped their price objective on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, B. Riley raised their target price on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $199.57.

Insider Activity at Dycom Industries

In other Dycom Industries news, VP Jason T. Lawson sold 856 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $174.48, for a total value of $149,354.88. Following the completion of the sale, the vice president now owns 6,937 shares of the company’s stock, valued at $1,210,367.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.28% of the stock is currently owned by insiders.

Dycom Industries Price Performance

NYSE:DY opened at $192.97 on Thursday. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 2.09 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 business has a 50 day simple moving average of $182.55 and a 200-day simple moving average of $166.84. Dycom Industries, Inc. has a 1 year low of $78.42 and a 1 year high of $199.77.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (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 during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the company earned $2.03 earnings per share. Dycom Industries’s revenue was up 15.5% on a year-over-year basis. Equities analysts forecast that Dycom Industries, Inc. will post 8.02 EPS for the current year.

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.