Dycom Industries, Inc. (DY) Shares Bought by Virginia Retirement Systems ET AL
Virginia Retirement Systems ET AL lifted its stake in Dycom Industries, Inc. (NYSE:DY) by 77.4% in the third quarter, HoldingsChannel.com reports. The fund owned 9,400 shares of the construction company’s stock after purchasing an additional 4,100 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Dycom Industries were worth $795,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Seven Eight Capital LP bought a new stake in shares of Dycom Industries in the 3rd quarter worth approximately $2,383,000. American Century Companies Inc. raised its holdings in shares of Dycom Industries by 22.6% in the 2nd quarter. American Century Companies Inc. now owns 337,373 shares of the construction company’s stock worth $31,885,000 after purchasing an additional 62,259 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Dycom Industries in the 2nd quarter worth approximately $189,000. Advisors Asset Management Inc. raised its holdings in shares of Dycom Industries by 6,483.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 785,814 shares of the construction company’s stock worth $1,035,000 after purchasing an additional 773,878 shares in the last quarter. Finally, Cim Investment Mangement Inc. raised its holdings in shares of Dycom Industries by 33.3% in the 2nd quarter. Cim Investment Mangement Inc. now owns 2,599 shares of the construction company’s stock worth $246,000 after purchasing an additional 649 shares in the last quarter.
A number of analysts recently commented on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $90.00 target price (down from $120.00) on shares of Dycom Industries in a report on Tuesday, August 14th. ValuEngine lowered shares of Dycom Industries from a “sell” rating to a “strong sell” rating in a report on Monday, August 13th. TheStreet lowered shares of Dycom Industries from a “b-” rating to a “c+” rating in a report on Friday, October 19th. Zacks Investment Research restated a “buy” rating and set a $75.00 price target on shares of Dycom Industries in a report on Tuesday, November 13th. Finally, B. Riley restated a “neutral” rating and set a $84.00 price target (up previously from $75.00) on shares of Dycom Industries in a report on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $97.30.
Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, August 29th. The construction company reported $1.05 EPS 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 firm had revenue of $799.50 million for the quarter, compared to the consensus estimate of $799.51 million. During the same period in the previous year, the firm posted $1.47 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that Dycom Industries, Inc. will post 2.82 EPS for the current fiscal year.
Dycom Industries declared that its Board of Directors has approved a share buyback plan on Wednesday, August 29th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 6.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
Dycom Industries 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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