ClariVest Asset Management LLC Acquires 4,032 Shares of Dycom Industries, Inc. (NYSE:DY)

ClariVest Asset Management LLC boosted its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 19.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,326 shares of the construction company’s stock after buying an additional 4,032 shares during the period. ClariVest Asset Management LLC owned 0.08% of Dycom Industries worth $4,105,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of DY. Victory Capital Management Inc. boosted its holdings in Dycom Industries by 4.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,048 shares of the construction company’s stock worth $1,041,000 after acquiring an additional 415 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Dycom Industries by 4.5% during 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 buying an additional 18,063 shares during the period. Principal Securities Inc. purchased a new position in shares of Dycom Industries in the 4th quarter valued at about $142,000. BNP Paribas Financial Markets grew its stake in Dycom Industries by 57.1% in the 4th quarter. BNP Paribas Financial Markets now owns 24,228 shares of the construction company’s stock valued at $2,788,000 after acquiring an additional 8,804 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of 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 period. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Stock Up 1.0 %

Shares of NYSE:DY opened at $179.13 on Wednesday. Dycom Industries, Inc. has a fifty-two week low of $78.42 and a fifty-two week high of $196.34. The firm’s 50 day moving average price is $177.63 and its 200 day moving average price is $160.73. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.41. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.20. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $2.03 EPS. The company’s revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts predict that Dycom Industries, Inc. will post 7.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on DY shares. UBS Group raised their price objective on Dycom Industries from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Raymond James lifted their target price on Dycom Industries from $143.00 to $195.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 23rd. Craig Hallum increased their target price on shares of Dycom Industries from $145.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Wells Fargo & Company upped their price objective on shares of Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Bank of America increased their target price on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $199.57.

Insider Activity

In related news, VP Jason T. Lawson sold 856 shares of the firm’s 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 in the company, valued at approximately $1,210,367.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.28% of the company’s stock.

Dycom Industries Company Profile

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.