ING Groep NV bought a new stake in shares of Dycom Industries, Inc. (NYSE:DY) during the second quarter, Holdings Channel reports. The institutional investor bought 3,781 shares of the construction company’s stock, valued at approximately $338,000.

A number of other hedge funds have also made changes to their positions in the stock. Advisors Preferred LLC acquired a new stake in shares of Dycom Industries during the first quarter valued at $104,000. Acrospire Investment Management LLC acquired a new stake in shares of Dycom Industries during the first quarter valued at $121,000. LS Investment Advisors LLC increased its stake in shares of Dycom Industries by 16.0% in the second quarter. LS Investment Advisors LLC now owns 2,439 shares of the construction company’s stock valued at $218,000 after buying an additional 337 shares during the last quarter. Capstone Asset Management Co. acquired a new stake in shares of Dycom Industries during the first quarter valued at $219,000. Finally, TrueNorth Inc. acquired a new stake in shares of Dycom Industries during the first quarter valued at $220,000.

Shares of Dycom Industries, Inc. (DY) traded down 0.20% during mid-day trading on Wednesday, hitting $85.17. The company’s stock had a trading volume of 168,095 shares. The company has a 50-day moving average of $89.82 and a 200 day moving average of $91.40. Dycom Industries, Inc. has a 1-year low of $70.33 and a 1-year high of $110.64. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 16.75 and a beta of 1.18.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, May 24th. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.11. Dycom Industries had a return on equity of 28.96% and a net margin of 5.30%. The company had revenue of $786.30 million during the quarter, compared to analysts’ expectations of $736.20 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The business’s revenue was up 18.3% on a year-over-year basis. On average, analysts expect that Dycom Industries, Inc. will post $5.23 EPS for the current year.

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Several brokerages recently weighed in on DY. ValuEngine downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Zacks Investment Research upgraded Dycom Industries from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Tuesday, May 16th. DA Davidson restated a “neutral” rating and set a $97.00 target price (down previously from $105.00) on shares of Dycom Industries in a research note on Sunday, May 28th. FBR & Co restated an “outperform” rating and set a $112.00 target price (down previously from $120.00) on shares of Dycom Industries in a research note on Thursday, May 25th. Finally, Canaccord Genuity restated a “buy” rating and set a $52.00 target price on shares of Dycom Industries in a research note on Thursday, May 25th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $102.09.

About Dycom Industries

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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Institutional Ownership by Quarter for Dycom Industries (NYSE:DY)

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