Legal & General Group Plc Increases Stake in Dycom Industries, Inc. (NYSE:DY)
Legal & General Group Plc boosted its stake in Dycom Industries, Inc. (NYSE:DY) by 24.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,906 shares of the construction company’s stock after buying an additional 3,904 shares during the period. Legal & General Group Plc’s holdings in Dycom Industries were worth $1,852,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC purchased a new position in Dycom Industries during the first quarter valued at about $121,000. Thrivent Financial for Lutherans increased its position in Dycom Industries by 9.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,380 shares of the construction company’s stock valued at $432,000 after buying an additional 460 shares during the period. Norges Bank purchased a new position in Dycom Industries during the fourth quarter valued at about $12,808,000. Atria Investments LLC purchased a new position in Dycom Industries during the first quarter valued at about $226,000. Finally, Mutual of America Capital Management LLC increased its position in Dycom Industries by 6.4% in the first quarter. Mutual of America Capital Management LLC now owns 25,445 shares of the construction company’s stock valued at $2,365,000 after buying an additional 1,536 shares during the period.
Dycom Industries, Inc. (NYSE DY) opened at 87.94 on Thursday. The company has a 50-day moving average of $89.24 and a 200 day moving average of $90.88. The firm has a market cap of $2.73 billion, a P/E ratio of 17.29 and a beta of 1.19. Dycom Industries, Inc. has a 52 week low of $70.33 and a 52 week high of $110.64.
Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, May 24th. The construction company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.19 by $0.11. Dycom Industries had a return on equity of 28.96% and a net margin of 5.30%. The business had revenue of $786.30 million during the quarter, compared to the consensus estimate of $736.20 million. During the same period in the prior year, the business posted $1.08 earnings per share. Dycom Industries’s revenue was up 18.3% compared to the same quarter last year. On average, equities analysts predict that Dycom Industries, Inc. will post $5.23 earnings per share for the current year.
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Several research analysts have recently issued reports on DY shares. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Dycom Industries in a research note on Wednesday, April 19th. ValuEngine downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Zacks Investment Research downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 price target on shares of Dycom Industries in a research note on Thursday, May 25th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $120.00 price target (up previously from $112.00) on shares of Dycom Industries in a research note on Saturday, April 22nd. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $102.09.
Dycom Industries Company Profile
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
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