Tocqueville Asset Management L.P. lowered its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,865 shares of the construction company’s stock after selling 4,785 shares during the period. Tocqueville Asset Management L.P. owned about 0.22% of Dycom Industries worth $5,914,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC boosted its position in Dycom Industries by 9,665.8% during the second quarter. Harbour Capital Advisors LLC now owns 725,112 shares of the construction company’s stock worth $8,100,000 after acquiring an additional 717,687 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Dycom Industries in the 2nd quarter valued at about $26,385,000. Columbus Circle Investors boosted its holdings in Dycom Industries by 141.6% in the 2nd quarter. Columbus Circle Investors now owns 451,063 shares of the construction company’s stock valued at $40,379,000 after purchasing an additional 264,353 shares during the last quarter. Scout Investments Inc. boosted its holdings in Dycom Industries by 407.6% in the 2nd quarter. Scout Investments Inc. now owns 288,107 shares of the construction company’s stock valued at $25,791,000 after purchasing an additional 231,345 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its holdings in shares of Dycom Industries by 24.1% in the 2nd quarter. Federated Investors Inc. PA now owns 816,246 shares of the construction company’s stock worth $73,070,000 after acquiring an additional 158,312 shares during the last quarter.
Dycom Industries, Inc. (DY) opened at $89.41 on Tuesday. The company has a quick ratio of 2.69, a current ratio of 2.95 and a debt-to-equity ratio of 1.10. Dycom Industries, Inc. has a twelve month low of $70.33 and a twelve month high of $110.64. The stock has a market cap of $2,831.53, a PE ratio of 17.30, a PEG ratio of 1.70 and a beta of 1.27.
Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, August 30th. The construction company reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The firm had revenue of $780.20 million during the quarter, compared to the consensus estimate of $798.62 million. Dycom Industries had a net margin of 5.13% and a return on equity of 26.68%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the firm posted $1.64 EPS. analysts forecast that Dycom Industries, Inc. will post 4.35 earnings per share for the current fiscal year.
Several equities analysts have recently commented on DY shares. BidaskClub lowered shares of Dycom Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Deutsche Bank AG assumed coverage on shares of Dycom Industries in a research note on Tuesday, September 26th. They set a “buy” rating and a $103.00 target price on the stock. Craig Hallum reissued a “buy” rating and issued a $90.00 price objective (down from $115.00) on shares of Dycom Industries in a research report on Thursday, August 31st. They noted that the move was a valuation call. Canaccord Genuity dropped their price objective on shares of Dycom Industries from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, August 31st. Finally, B. Riley reissued a “buy” rating on shares of Dycom Industries in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Dycom Industries presently has a consensus rating of “Buy” and an average target price of $102.71.
Dycom Industries Profile
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
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