International Assets Investment Management LLC Makes New Investment in Dycom Industries, Inc. (NYSE:DY)

International Assets Investment Management LLC bought a new stake in Dycom Industries, Inc. (NYSE:DY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 98,550 shares of the construction company’s stock, valued at approximately $19,424,000.

Other large investors have also modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in shares of Dycom Industries by 33.1% in the 1st quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company’s stock valued at $4,630,000 after buying an additional 8,028 shares in the last quarter. Sheets Smith Wealth Management boosted its stake in Dycom Industries by 100.0% during the 1st quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock worth $1,009,000 after purchasing an additional 3,514 shares during the period. UniSuper Management Pty Ltd acquired a new stake in Dycom Industries during the 1st quarter worth $794,000. ClariVest Asset Management LLC acquired a new stake in Dycom Industries during the 1st quarter worth $2,913,000. Finally, Interval Partners LP acquired a new stake in Dycom Industries during the 1st quarter worth $5,247,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Performance

Shares of DY opened at $179.11 on Wednesday. The company has a 50-day simple moving average of $186.86 and a 200-day simple moving average of $173.70. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $5.21 billion, a PE ratio of 23.08, a P/E/G ratio of 1.61 and a beta of 1.41. Dycom Industries, Inc. has a 52-week low of $78.42 and a 52-week high of $207.20.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.20. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.03 EPS. Equities research analysts predict that Dycom Industries, Inc. will post 8.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DY. B. Riley increased their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. StockNews.com cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. KeyCorp increased their price target on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Bank of America increased their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company upped their price objective on shares of Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $203.43.

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.