Sciencast Management LP Acquires New Position in Dycom Industries, Inc. (DY)

Sciencast Management LP acquired a new position in Dycom Industries, Inc. (NYSE:DY) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,100 shares of the construction company’s stock, valued at approximately $367,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DY. Pacad Investment Ltd. lifted its position in shares of Dycom Industries by 71.4% in the second quarter. Pacad Investment Ltd. now owns 1,200 shares of the construction company’s stock worth $107,000 after buying an additional 500 shares in the last quarter. Riverhead Capital Management LLC lifted its position in shares of Dycom Industries by 96.0% in the second quarter. Riverhead Capital Management LLC now owns 1,764 shares of the construction company’s stock worth $158,000 after buying an additional 864 shares in the last quarter. Sigma Planning Corp purchased a new stake in shares of Dycom Industries in the second quarter worth about $211,000. TrueNorth Inc. purchased a new stake in shares of Dycom Industries in the first quarter worth about $220,000. Finally, Shelton Capital Management purchased a new stake in shares of Dycom Industries in the second quarter worth about $215,000.

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Shares of Dycom Industries, Inc. (NYSE DY) traded down 0.64% during midday trading on Monday, reaching $83.91. The company’s stock had a trading volume of 66,694 shares. The stock’s 50 day moving average price is $80.98 and its 200 day moving average price is $90.45. Dycom Industries, Inc. has a one year low of $70.33 and a one year high of $110.64. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 17.05 and a beta of 1.29.

Dycom Industries (NYSE:DY) last issued its earnings results 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 business had revenue of $780.20 million for the quarter, compared to analysts’ expectations of $798.62 million. Dycom Industries had a return on equity of 26.68% and a net margin of 5.13%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 EPS. Analysts predict that Dycom Industries, Inc. will post $4.32 earnings per share for the current year.

DY has been the topic of a number of research analyst reports. Canaccord Genuity decreased their target price on Dycom Industries from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, August 31st. BidaskClub downgraded Dycom Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Deutsche Bank AG initiated coverage on Dycom Industries in a research report on Tuesday, September 26th. They issued a “buy” rating and a $103.00 target price on the stock. Craig Hallum reiterated a “buy” rating and issued a $90.00 target price (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. Finally, KeyCorp upgraded Dycom Industries from a “sector weight” rating to an “overweight” rating and set a $87.00 target price on the stock in a research report on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Dycom Industries currently has a consensus rating of “Buy” and a consensus price target of $102.71.

Dycom Industries Company 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.

Institutional Ownership by Quarter for Dycom Industries (NYSE:DY)

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