Creative Planning Acquires 2,117 Shares of Dycom Industries, Inc. (NYSE:DY)

Creative Planning grew its holdings in Dycom Industries, Inc. (NYSE:DY) by 62.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,505 shares of the construction company’s stock after buying an additional 2,117 shares during the period. Creative Planning’s holdings in Dycom Industries were worth $929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DY. Peconic Partners LLC boosted its position in Dycom Industries by 0.7% during the fourth quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock worth $375,847,000 after purchasing an additional 21,635 shares during the period. Vanguard Group Inc. lifted its stake in shares of Dycom Industries by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock worth $458,728,000 after buying an additional 12,395 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Dycom Industries by 6.3% during the 2nd quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock worth $275,324,000 after buying an additional 96,846 shares during the period. Bank of New York Mellon Corp raised its holdings in Dycom Industries by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 230,216 shares of the construction company’s stock valued at $38,851,000 after acquiring an additional 971 shares during the period. Finally, Appian Way Asset Management LP lifted its position in Dycom Industries by 84.2% during the first quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company’s stock worth $28,328,000 after acquiring an additional 90,198 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Trading Down 1.9 %

DY opened at $186.63 on Friday. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 2.09 and a beta of 1.41. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81. Dycom Industries, Inc. has a twelve month low of $78.42 and a twelve month high of $199.77. The company has a 50-day simple moving average of $184.18 and a 200 day simple moving average of $168.84.

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

Analyst Upgrades and Downgrades

DY has been the subject of a number of research analyst reports. KeyCorp boosted their price objective on Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a report on Tuesday. B. Riley lifted their target price on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their price target on shares of Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Bank of America boosted their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a report on Friday, August 23rd. One investment 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 stock. According to MarketBeat, Dycom Industries presently has a consensus 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.