Dycom Industries (NYSE:DY) Issues Quarterly Earnings Results

Dycom Industries (NYSE:DY – Get Rating) announced its quarterly earnings data on Wednesday. The construction company reported $1.73 EPS for the quarter, beating the consensus estimate of $0.70 by $1.03, Briefing.com reports. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $940.22 million. Dycom Industries had a return on equity of 19.99% and a net margin of 4.38%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share.

Dycom Industries Stock Up 3.6 %

DY opened at $100.50 on Friday. Dycom Industries has a twelve month low of $77.33 and a twelve month high of $122.13. The company has a quick ratio of 2.93, a current ratio of 3.43 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average price of $93.81 and a 200-day moving average price of $93.67. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 17.27 and a beta of 1.30.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DY. UBS Group raised their price objective on Dycom Industries from $124.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Craig Hallum raised their price objective on Dycom Industries from $110.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Wells Fargo & Company raised Dycom Industries from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $105.00 to $120.00 in a research report on Thursday. Finally, StockNews.com initiated coverage on Dycom Industries in a research report on Thursday, May 18th. They set a “buy” rating for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Dycom Industries has a consensus rating of “Buy” and an average target price of $128.80.

Insider Buying and Selling

In other news, CFO H Andrew Deferrari sold 10,282 shares of the stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $94.11, for a total transaction of $967,639.02. Following the transaction, the chief financial officer now directly owns 148,425 shares of the company’s stock, valued at approximately $13,968,276.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Dycom Industries news, CFO H Andrew Deferrari sold 10,282 shares of the business’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $94.11, for a total transaction of $967,639.02. Following the completion of the sale, the chief financial officer now directly owns 148,425 shares in the company, valued at approximately $13,968,276.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Ryan F. Urness sold 3,300 shares of the stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $94.90, for a total transaction of $313,170.00. Following the completion of the transaction, the vice president now owns 26,242 shares in the company, valued at approximately $2,490,365.80. The disclosure for this sale can be found here. 4.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Dycom Industries by 40.1% in the 1st quarter. BlackRock Inc. now owns 4,639,633 shares of the construction company’s stock worth $434,502,000 after purchasing an additional 1,327,595 shares during the period. Vanguard Group Inc. raised its stake in shares of Dycom Industries by 0.7% in the third quarter. Vanguard Group Inc. now owns 2,753,480 shares of the construction company’s stock worth $263,040,000 after buying an additional 18,125 shares during the period. Alliancebernstein L.P. lifted its position in shares of Dycom Industries by 43.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,728,780 shares of the construction company’s stock valued at $161,814,000 after buying an additional 524,292 shares in the last quarter. State Street Corp grew its stake in shares of Dycom Industries by 8.4% during the 1st quarter. State Street Corp now owns 1,027,353 shares of the construction company’s stock valued at $96,212,000 after acquiring an additional 79,530 shares during the period. Finally, Millennium Management LLC increased its holdings in Dycom Industries by 149.4% in the 4th quarter. Millennium Management LLC now owns 883,489 shares of the construction company’s stock worth $82,695,000 after acquiring an additional 529,178 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Dycom Industries Company Profile

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Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.