GW&K Investment Management LLC lessened its stake in Dycom Industries, Inc. (NYSE:DY) by 1.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,125 shares of the construction company’s stock after selling 800 shares during the quarter. GW&K Investment Management LLC owned approximately 0.14% of Dycom Industries worth $3,818,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in Dycom Industries by 6,483.6% during the second quarter. Advisors Asset Management Inc. now owns 785,814 shares of the construction company’s stock valued at $1,035,000 after purchasing an additional 773,878 shares in the last quarter. Schroder Investment Management Group raised its stake in Dycom Industries by 31.1% during the second quarter. Schroder Investment Management Group now owns 718,903 shares of the construction company’s stock valued at $67,929,000 after purchasing an additional 170,344 shares in the last quarter. Glenmede Trust Co. NA raised its stake in Dycom Industries by 14.3% during the second quarter. Glenmede Trust Co. NA now owns 631,830 shares of the construction company’s stock valued at $59,714,000 after purchasing an additional 79,265 shares in the last quarter. Northern Trust Corp raised its stake in Dycom Industries by 2.0% during the second quarter. Northern Trust Corp now owns 529,814 shares of the construction company’s stock valued at $50,072,000 after purchasing an additional 10,607 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Dycom Industries by 5.8% during the second quarter. Bank of New York Mellon Corp now owns 472,027 shares of the construction company’s stock valued at $44,611,000 after purchasing an additional 25,762 shares in the last quarter.

DY stock opened at $73.26 on Friday. The company has a current ratio of 3.24, a quick ratio of 2.96 and a debt-to-equity ratio of 0.93. Dycom Industries, Inc. has a twelve month low of $65.82 and a twelve month high of $123.99. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 2.91 and a beta of 1.41.

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

Dycom Industries declared that its board has approved a share buyback program on Wednesday, August 29th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 6.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

A number of equities research analysts recently issued reports on DY shares. TheStreet downgraded shares of Dycom Industries from a “b-” rating to a “c+” rating in a research note on Friday, October 19th. Wells Fargo & Co decreased their price target on shares of Dycom Industries from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, August 30th. Deutsche Bank set a $93.00 price objective on shares of Dycom Industries and gave the company a “buy” rating in a research report on Thursday, August 30th. Zacks Investment Research upgraded shares of Dycom Industries from a “sell” rating to a “hold” rating in a research report on Monday, August 6th. Finally, B. Riley cut shares of Dycom Industries from a “buy” rating to a “neutral” rating and cut their price objective for the company from $120.00 to $75.00 in a research report on Monday, August 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $97.30.

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Dycom Industries Company Profile

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.

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

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