Bornite Capital Management LP Takes Position in Dycom Industries, Inc. $DY

Bornite Capital Management LP bought a new stake in Dycom Industries, Inc. (NYSE:DY) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 150,000 shares of the construction company’s stock, valued at approximately $43,764,000. Dycom Industries accounts for 4.1% of Bornite Capital Management LP’s holdings, making the stock its 9th largest holding. Bornite Capital Management LP owned 0.52% of Dycom Industries at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in Dycom Industries in the third quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Dycom Industries during the second quarter worth approximately $32,000. Salomon & Ludwin LLC bought a new position in shares of Dycom Industries in the 3rd quarter worth $37,000. UMB Bank n.a. grew its position in Dycom Industries by 57.3% in the 3rd quarter. UMB Bank n.a. now owns 129 shares of the construction company’s stock valued at $38,000 after purchasing an additional 47 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Dycom Industries by 73.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after purchasing an additional 68 shares during the period. 98.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Eitan Gertel sold 3,645 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $345.62, for a total transaction of $1,259,784.90. Following the completion of the transaction, the director directly owned 15,997 shares of the company’s stock, valued at $5,528,883.14. This represents a 18.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DY. Guggenheim started coverage on shares of Dycom Industries in a research note on Thursday, January 22nd. They issued a “buy” rating and a $510.00 price objective on the stock. Bank of America upped their target price on shares of Dycom Industries from $310.00 to $365.00 and gave the stock a “buy” rating in a report on Friday, November 21st. JPMorgan Chase & Co. raised their price target on shares of Dycom Industries from $370.00 to $395.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Wall Street Zen raised Dycom Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, UBS Group increased their price objective on Dycom Industries from $373.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $395.20.

Dycom Industries Price Performance

Dycom Industries stock opened at $413.68 on Thursday. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $445.52. The company’s 50 day moving average price is $367.88 and its two-hundred day moving average price is $316.29. The stock has a market cap of $11.98 billion, a P/E ratio of 40.72, a P/E/G ratio of 1.85 and a beta of 1.36. The company has a quick ratio of 2.90, a current ratio of 3.09 and a debt-to-equity ratio of 0.62.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, November 19th. The construction company reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.15 by $0.48. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.41 billion. Dycom Industries had a return on equity of 22.21% and a net margin of 5.75%.Dycom Industries’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the business posted $2.68 earnings per share. On average, equities analysts predict that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

About Dycom Industries

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.