Russell Investments Group Ltd. increased its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 161.4% during the second quarter, Holdings Channel reports. The firm owned 168,588 shares of the construction company’s stock after buying an additional 104,082 shares during the period. Russell Investments Group Ltd.’s holdings in Dycom Industries were worth $15,093,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DY. Pictet Asset Management Ltd. raised its position in Dycom Industries by 0.6% in the first quarter. Pictet Asset Management Ltd. now owns 10,940 shares of the construction company’s stock valued at $1,017,000 after buying an additional 66 shares during the period. Shepherd Financial Partners LLC raised its position in Dycom Industries by 1.8% in the first quarter. Shepherd Financial Partners LLC now owns 4,982 shares of the construction company’s stock valued at $460,000 after buying an additional 90 shares during the period. Capstone Asset Management Co. raised its position in Dycom Industries by 3.8% in the second quarter. Capstone Asset Management Co. now owns 2,448 shares of the construction company’s stock valued at $219,000 after buying an additional 90 shares during the period. Louisiana State Employees Retirement System raised its position in Dycom Industries by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the construction company’s stock valued at $734,000 after buying an additional 100 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Dycom Industries by 2.4% in the second quarter. Nisa Investment Advisors LLC now owns 4,230 shares of the construction company’s stock valued at $379,000 after buying an additional 100 shares during the period.

Shares of Dycom Industries, Inc. (NYSE:DY) traded down 1.00% during mid-day trading on Thursday, hitting $84.73. The stock had a trading volume of 169,660 shares. Dycom Industries, Inc. has a one year low of $70.33 and a one year high of $110.64. The firm’s 50 day moving average price is $89.35 and its 200-day moving average price is $91.65. The company has a market cap of $2.63 billion, a PE ratio of 16.66 and a beta of 1.18.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, May 24th. The construction company reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.11. The business had revenue of $786.30 million during 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%. The firm’s revenue for the quarter 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, equities research analysts anticipate that Dycom Industries, Inc. will post $5.23 earnings per share for the current fiscal year.

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A number of brokerages have recently issued reports on DY. FBR & Co reaffirmed an “outperform” rating on shares of Dycom Industries in a research report on Monday, June 19th. BidaskClub raised Dycom Industries from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. ValuEngine raised Dycom Industries from a “hold” rating to a “buy” rating in a research report on Thursday, May 25th. Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 target price on shares of Dycom Industries in a research report on Thursday, May 25th. Finally, Zacks Investment Research raised Dycom Industries from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Tuesday, May 16th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Dycom Industries has an average rating of “Buy” and an average 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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Institutional Ownership by Quarter for Dycom Industries (NYSE:DY)

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