Partnervest Advisory Services LLC Raises Stake in Dycom Industries, Inc. (NYSE:DY)
Partnervest Advisory Services LLC boosted its stake in Dycom Industries, Inc. (NYSE:DY) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 3,501 shares of the construction company’s stock after buying an additional 95 shares during the period. Partnervest Advisory Services LLC’s holdings in Dycom Industries were worth $313,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of DY. Harbour Capital Advisors LLC raised its position in shares of Dycom Industries by 9,665.8% in the second quarter. Harbour Capital Advisors LLC now owns 725,112 shares of the construction company’s stock valued at $8,100,000 after buying an additional 717,687 shares during the last quarter. Norges Bank bought a new position in Dycom Industries during the fourth quarter worth about $12,808,000. Investment Counselors of Maryland LLC raised its position in Dycom Industries by 122.4% in the first quarter. Investment Counselors of Maryland LLC now owns 261,090 shares of the construction company’s stock worth $24,268,000 after buying an additional 143,710 shares in the last quarter. Quantitative Investment Management LLC bought a new position in Dycom Industries during the first quarter worth about $12,297,000. Finally, Vanguard Group Inc. raised its position in Dycom Industries by 4.6% in the first quarter. Vanguard Group Inc. now owns 2,437,127 shares of the construction company’s stock worth $226,531,000 after buying an additional 106,817 shares in the last quarter.
Dycom Industries, Inc. (DY) opened at 85.59 on Thursday. The company’s 50 day moving average price is $89.35 and its 200-day moving average price is $91.65. Dycom Industries, Inc. has a 12-month low of $70.33 and a 12-month high of $110.64. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 16.83 and a beta of 1.18.
Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, May 24th. The construction company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.11. The firm had revenue of $786.30 million for the quarter, compared to analyst estimates of $736.20 million. Dycom Industries had a net margin of 5.30% and a return on equity of 28.96%. Dycom Industries’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. On average, analysts forecast that Dycom Industries, Inc. will post $5.23 EPS for the current year.
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A number of equities analysts recently issued reports on the company. BidaskClub lowered Dycom Industries from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. FBR & Co reissued an “outperform” rating on shares of Dycom Industries in a report on Monday, June 19th. ValuEngine lowered Dycom Industries from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. DA Davidson reissued a “neutral” rating and set a $97.00 price target (down previously from $105.00) on shares of Dycom Industries in a report on Sunday, May 28th. Finally, Zacks Investment Research lowered Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target 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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