1,088 Shares in Dycom Industries, Inc. (NYSE:DY) Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. purchased a new stake in shares of Dycom Industries, Inc. (NYSE:DY) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,088 shares of the construction company’s stock, valued at approximately $214,000.

A number of other large investors have also made changes to their positions in DY. Assenagon Asset Management S.A. raised its holdings in shares of Dycom Industries by 2,353.9% during the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock valued at $26,831,000 after acquiring an additional 152,509 shares during the period. Renaissance Technologies LLC increased its stake in Dycom Industries by 2,543.6% in the 2nd quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company’s stock valued at $17,399,000 after buying an additional 99,200 shares during the period. International Assets Investment Management LLC acquired a new position in Dycom Industries in the 3rd quarter valued at approximately $19,424,000. Millennium Management LLC increased its stake in Dycom Industries by 6.3% in the 2nd quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock valued at $275,324,000 after buying an additional 96,846 shares during the period. Finally, Appian Way Asset Management LP increased its stake in Dycom Industries by 84.2% in the 1st quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company’s stock valued at $28,328,000 after buying an additional 90,198 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Performance

DY stock opened at $184.45 on Wednesday. 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 $5.37 billion, a price-to-earnings ratio of 22.91, a P/E/G ratio of 1.44 and a beta of 1.44. Dycom Industries, Inc. has a 12 month low of $80.65 and a 12 month high of $207.20. The firm has a 50 day moving average of $186.56 and a two-hundred day moving average of $175.45.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data 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. 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%. Dycom Industries’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.03 EPS. As a group, equities analysts anticipate that Dycom Industries, Inc. will post 8.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. 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. Wells Fargo & Company upped their price objective 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. KeyCorp upped their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Bank of America upped their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $203.43.

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.