Dark Forest Capital Management LP Buys Shares of 5,388 Dycom Industries, Inc. (NYSE:DY)

Dark Forest Capital Management LP bought a new stake in shares of Dycom Industries, Inc. (NYSE:DY) during the 2nd quarter, Holdings Channel.com reports. The fund bought 5,388 shares of the construction company’s stock, valued at approximately $909,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. AXA S.A. lifted its holdings in shares of Dycom Industries by 279.5% during the 2nd quarter. AXA S.A. now owns 5,692 shares of the construction company’s stock valued at $961,000 after purchasing an additional 4,192 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new position in Dycom Industries in the 2nd quarter worth $452,000. Evergreen Capital Management LLC purchased a new position in Dycom Industries in the 2nd quarter worth $216,000. Public Sector Pension Investment Board raised its stake in Dycom Industries by 6.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 63,984 shares of the construction company’s stock worth $10,798,000 after acquiring an additional 3,848 shares during the last quarter. Finally, DRW Securities LLC purchased a new position in Dycom Industries in the 2nd quarter worth $2,110,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Insider Activity

In other news, VP Jason T. Lawson sold 856 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $174.48, for a total transaction of $149,354.88. Following the sale, the vice president now directly owns 6,937 shares in the company, valued at approximately $1,210,367.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.28% of the company’s stock.

Dycom Industries Stock Performance

NYSE DY opened at $191.62 on Friday. The stock has a 50-day simple moving average of $181.64 and a two-hundred day simple moving average of $165.37. The firm has a market capitalization of $5.57 billion, a P/E ratio of 24.69, a PEG ratio of 2.09 and a beta of 1.41. Dycom Industries, Inc. has a fifty-two week low of $78.42 and a fifty-two week high of $199.77. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.44.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, beating 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 business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business posted $2.03 EPS. The company’s revenue was up 15.5% on a year-over-year basis. On average, equities analysts forecast that Dycom Industries, Inc. will post 8.02 earnings per share for the current year.

Analysts Set New Price Targets

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

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.