Kiwi Wealth Investments Limited Partnership cut its stake in Dycom Industries, Inc. (NYSE:DY) by 41.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,599 shares of the construction company’s stock after selling 28,600 shares during the period. Kiwi Wealth Investments Limited Partnership’s holdings in Dycom Industries were worth $3,837,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale acquired a new position in shares of Dycom Industries during the 1st quarter worth about $114,000. CenterStar Asset Management LLC boosted its stake in shares of Dycom Industries by 1,933.8% during the 2nd quarter. CenterStar Asset Management LLC now owns 1,322 shares of the construction company’s stock worth $125,000 after buying an additional 1,257 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Dycom Industries during the 2nd quarter worth about $189,000. Hilltop Holdings Inc. acquired a new position in shares of Dycom Industries during the 1st quarter worth about $215,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Dycom Industries during the 1st quarter worth about $245,000.

Shares of DY stock opened at $80.65 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.09 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $2.53 billion, a PE ratio of 28.84, a PEG ratio of 2.33 and a beta of 1.23. Dycom Industries, Inc. has a 52-week low of $67.15 and a 52-week high of $123.99.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, August 29th. The construction company reported $1.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.05. The company had revenue of $799.50 million for the quarter, compared to analysts’ expectations of $799.51 million. Dycom Industries had a net margin of 3.94% and a return on equity of 12.07%. Dycom Industries’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.47 EPS. equities analysts forecast that Dycom Industries, Inc. will post 2.82 earnings per share for the current year.

Dycom Industries announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 29th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Dycom Industries from a “sell” rating to a “hold” rating in a research note on Monday, August 6th. Canaccord Genuity restated a “buy” rating and set a $90.00 price objective (down from $120.00) on shares of Dycom Industries in a research note on Tuesday, August 14th. DA Davidson reduced their price objective on shares of Dycom Industries to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, August 14th. Deutsche Bank set a $93.00 price objective on shares of Dycom Industries and gave the stock a “buy” rating in a research note on Thursday, August 30th. Finally, KeyCorp reduced their price objective on shares of Dycom Industries from $123.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Dycom Industries currently has an average rating of “Hold” and an average target price of $100.50.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services in the United States and Canada. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

Further Reading: Outstanding Shares and The Effect on Share Price

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

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