Seven Eight Capital LP Takes $570,000 Position in Dycom Industries, Inc. (NYSE:DY)

Seven Eight Capital LP purchased a new stake in Dycom Industries, Inc. (NYSE:DY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,973 shares of the construction company’s stock, valued at approximately $570,000.

A number of other institutional investors have also recently modified their holdings of DY. Peconic Partners LLC lifted its position in shares of Dycom Industries by 0.7% in the fourth quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock valued at $375,847,000 after acquiring an additional 21,635 shares in the last quarter. Vanguard Group Inc. increased its stake in Dycom Industries by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock valued at $458,728,000 after purchasing an additional 12,395 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Dycom Industries by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,008,912 shares of the construction company’s stock valued at $116,117,000 after purchasing an additional 15,389 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Dycom Industries by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 418,969 shares of the construction company’s stock valued at $48,219,000 after purchasing an additional 18,063 shares during the last quarter. Finally, Norges Bank acquired a new position in Dycom Industries in the fourth quarter valued at $33,679,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Stock Down 4.0 %

DY traded down $7.25 on Wednesday, reaching $173.39. The company’s stock had a trading volume of 235,059 shares, compared to its average volume of 257,354. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 1.92 and a beta of 1.45. Dycom Industries, Inc. has a 1 year low of $78.42 and a 1 year high of $186.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.17 and a quick ratio of 2.97. The business’s 50 day moving average is $172.35 and its 200 day moving average is $144.99.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, May 22nd. The construction company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.73. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. Dycom Industries’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.73 earnings per share. As a group, research analysts forecast that Dycom Industries, Inc. will post 8.02 EPS for the current fiscal year.

Insider Activity at Dycom Industries

In other Dycom Industries news, VP Jason T. Lawson sold 856 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $174.48, for a total transaction of $149,354.88. Following the transaction, the vice president now owns 6,937 shares of the company’s stock, valued at approximately $1,210,367.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. 4.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DY has been the subject of several research analyst reports. Craig Hallum upped their price target on Dycom Industries from $145.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. StockNews.com upgraded Dycom Industries from a “hold” rating to a “buy” rating in a research note on Thursday, July 18th. UBS Group upped their price target on Dycom Industries from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Raymond James upped their price target on Dycom Industries from $143.00 to $195.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 23rd. Finally, KeyCorp upped their price target on Dycom Industries from $169.00 to $179.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $195.29.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.