ING Groep NV purchased a new stake in Dycom Industries, Inc. (NYSE:DY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,775 shares of the construction company’s stock, valued at approximately $404,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its holdings in shares of Dycom Industries by 6,483.6% in 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 during the period. Schroder Investment Management Group boosted its holdings in shares of Dycom Industries by 31.1% in 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 during the period. Glenmede Trust Co. NA boosted its holdings in shares of Dycom Industries by 14.3% in 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 during the period. Northern Trust Corp boosted its holdings in shares of Dycom Industries by 2.0% in 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 during the period. Finally, Bank of New York Mellon Corp lifted its holdings 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 worth $44,611,000 after buying an additional 25,762 shares during the period.

DY has been the subject of a number of analyst reports. Zacks Investment Research upgraded Dycom Industries from a “sell” rating to a “hold” rating in a report on Monday, August 6th. B. Riley lowered Dycom Industries from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $120.00 to $75.00 in a report on Monday, August 13th. ValuEngine lowered Dycom Industries from a “sell” rating to a “strong sell” rating in a report on Monday, August 13th. Craig Hallum lowered Dycom Industries from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, Canaccord Genuity restated a “buy” rating and set a $90.00 target price (down previously from $120.00) on shares of Dycom Industries in a report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Dycom Industries has an average rating of “Buy” and a consensus price target of $96.70.

Shares of DY stock opened at $63.55 on Thursday. The firm has a market cap of $2.09 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 2.77 and a beta of 1.41. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.96 and a current ratio of 3.78. Dycom Industries, Inc. has a 12-month low of $63.38 and a 12-month high of $123.99.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Tuesday, November 20th. The construction company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. The business had revenue of $848.20 million for the quarter, compared to the consensus estimate of $806.88 million. Dycom Industries had a return on equity of 11.38% and a net margin of 3.79%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 earnings per share. On average, analysts predict that Dycom Industries, Inc. will post 2.85 earnings per share for the current year.

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

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

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