Comerica Bank trimmed its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,131 shares of the construction company’s stock after selling 481 shares during the quarter. Comerica Bank owned approximately 0.08% of Dycom Industries worth $2,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Acrospire Investment Management LLC purchased a new position in shares of Dycom Industries in the 1st quarter valued at approximately $121,000. Capstone Asset Management Co. purchased a new position in shares of Dycom Industries in the 1st quarter valued at approximately $219,000. Sigma Planning Corp purchased a new position in shares of Dycom Industries in the 2nd quarter valued at approximately $211,000. TrueNorth Inc. purchased a new position in shares of Dycom Industries in the 1st quarter valued at approximately $220,000. Finally, LS Investment Advisors LLC raised its stake in Dycom Industries by 16.0% during the second quarter. LS Investment Advisors LLC now owns 2,439 shares of the construction company’s stock valued at $218,000 after buying an additional 337 shares during the last quarter.
A number of research analysts have issued reports on DY shares. Craig Hallum reissued a “buy” rating and issued a $90.00 target price (down previously from $115.00) on shares of Dycom Industries in a report on Thursday, August 31st. They noted that the move was a valuation call. FBR & Co lifted their price objective on Dycom Industries from $98.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, August 30th. Canaccord Genuity reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Dycom Industries in a report on Thursday, May 25th. ValuEngine raised Dycom Industries from a “hold” rating to a “buy” rating in a report on Thursday, May 25th. Finally, BidaskClub raised Dycom Industries from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $105.29.
Shares of Dycom Industries, Inc. (NYSE DY) opened at 79.04 on Friday. The firm’s 50-day moving average price is $81.82 and its 200 day moving average price is $91.61. The company has a market capitalization of $2.46 billion, a PE ratio of 16.07 and a beta of 1.26. Dycom Industries, Inc. has a 52 week low of $70.33 and a 52 week high of $110.64.
Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, August 30th. The construction company reported $1.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The company had revenue of $780.20 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $1.64 EPS. Equities analysts predict that Dycom Industries, Inc. will post $4.37 EPS for the current year.
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About Dycom Industries
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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