Los Angeles Capital Management LLC Decreases Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

Los Angeles Capital Management LLC lessened its stake in Dycom Industries, Inc. (NYSE:DY) by 55.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,688 shares of the construction company’s stock after selling 4,620 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Dycom Industries were worth $727,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Dycom Industries during the first quarter worth about $28,000. Annapolis Financial Services LLC acquired a new stake in Dycom Industries in the 3rd quarter worth about $29,000. Anchor Investment Management LLC increased its stake in Dycom Industries by 50.4% during the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock worth $33,000 after buying an additional 65 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Dycom Industries by 107.8% during the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock valued at $49,000 after acquiring an additional 152 shares during the last quarter. Finally, SJS Investment Consulting Inc. lifted its position in shares of Dycom Industries by 5,071.4% in the second quarter. SJS Investment Consulting Inc. now owns 362 shares of the construction company’s stock valued at $61,000 after acquiring an additional 355 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DY. KeyCorp boosted their price target on Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Bank of America increased their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. B. Riley upped their price objective on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company raised their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $205.57.

Dycom Industries Price Performance

Dycom Industries stock opened at $187.59 on Friday. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $188.73 and a 200 day moving average price of $177.48. Dycom Industries, Inc. has a 12-month low of $84.83 and a 12-month high of $207.20. The stock has a market cap of $5.46 billion, a P/E ratio of 23.30, a PEG ratio of 1.54 and a beta of 1.44.

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, topping 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 earned $2.03 EPS. Sell-side analysts anticipate that Dycom Industries, Inc. will post 7.96 earnings per share for the current year.

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.