Dycom Industries, Inc. (NYSE:DY) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its holdings in Dycom Industries, Inc. (NYSE:DY) by 25.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,866 shares of the construction company’s stock after selling 2,961 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Dycom Industries were worth $1,747,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in Dycom Industries by 61.6% in the 3rd quarter. Victory Capital Management Inc. now owns 13,906 shares of the construction company’s stock worth $2,741,000 after acquiring an additional 5,303 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Dycom Industries during the third quarter worth about $5,417,000. GSA Capital Partners LLP acquired a new position in shares of Dycom Industries during the 3rd quarter worth about $2,133,000. Lisanti Capital Growth LLC purchased a new position in Dycom Industries in the 3rd quarter valued at about $4,445,000. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Dycom Industries by 7.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 11,401 shares of the construction company’s stock worth $2,247,000 after buying an additional 767 shares during the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Stock Up 1.5 %

Shares of NYSE:DY opened at $187.52 on Monday. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.55 and a beta of 1.44. Dycom Industries, Inc. has a 12-month low of $84.83 and a 12-month high of $207.20. The business has a 50-day moving average price of $188.73 and a 200 day moving average price of $178.01. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.

Dycom Industries (NYSE:DY) last released 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. 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 the consensus estimate of $1.20 billion. During the same period in the previous year, the firm earned $2.03 EPS. The business’s revenue was up 15.5% on a year-over-year basis. Sell-side analysts expect that Dycom Industries, Inc. will post 7.96 EPS for the current year.

Analysts Set New Price Targets

DY has been the subject of several research reports. StockNews.com cut Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company upped their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday. B. Riley raised 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. KeyCorp boosted their price target on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Bank of America raised their target price 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. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $205.57.

Dycom Industries Company 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.