Advisors Asset Management Inc. Buys 1,304 Shares of Dycom Industries, Inc. (NYSE:DY)

Advisors Asset Management Inc. lifted its stake in Dycom Industries, Inc. (NYSE:DYGet Rating) by 95.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,675 shares of the construction company’s stock after purchasing an additional 1,304 shares during the period. Advisors Asset Management Inc.’s holdings in Dycom Industries were worth $249,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its holdings in Dycom Industries by 50.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 335 shares of the construction company’s stock worth $30,000 after acquiring an additional 113 shares in the last quarter. Tcwp LLC bought a new position in Dycom Industries during the 1st quarter worth about $38,000. Assetmark Inc. grew its holdings in Dycom Industries by 142.0% during the 2nd quarter. Assetmark Inc. now owns 714 shares of the construction company’s stock worth $66,000 after acquiring an additional 419 shares in the last quarter. Strs Ohio grew its holdings in Dycom Industries by 33.3% during the 2nd quarter. Strs Ohio now owns 800 shares of the construction company’s stock worth $74,000 after acquiring an additional 200 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC grew its holdings in Dycom Industries by 59.8% during the 2nd quarter. Counterpoint Mutual Funds LLC now owns 1,448 shares of the construction company’s stock worth $135,000 after acquiring an additional 542 shares in the last quarter. 93.32% of the stock is currently owned by institutional investors.

Insider Activity at Dycom Industries

In related news, CAO Sharon Villaverde sold 750 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $100.01, for a total value of $75,007.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,579 shares of the company’s stock, valued at approximately $757,975.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dycom Industries news, CEO Steven E. Nielsen sold 69,062 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $112.75, for a total transaction of $7,786,740.50. Following the completion of the transaction, the chief executive officer now directly owns 688,778 shares of the company’s stock, valued at approximately $77,659,719.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sharon Villaverde sold 750 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $100.01, for a total transaction of $75,007.50. Following the transaction, the chief accounting officer now directly owns 7,579 shares of the company’s stock, valued at $757,975.79. The disclosure for this sale can be found here. Insiders sold 92,957 shares of company stock valued at $10,446,088 in the last three months. 4.32% of the stock is owned by insiders.

Dycom Industries Stock Performance

Shares of Dycom Industries stock opened at $110.04 on Monday. The firm has a market capitalization of $3.24 billion, a P/E ratio of 35.73 and a beta of 1.44. The company has a quick ratio of 3.09, a current ratio of 3.32 and a debt-to-equity ratio of 1.02. The company has a 50 day moving average price of $107.19 and a 200 day moving average price of $100.84. Dycom Industries, Inc. has a 52 week low of $76.21 and a 52 week high of $122.13.

Dycom Industries (NYSE:DYGet Rating) last announced its quarterly earnings data on Wednesday, August 24th. The construction company reported $1.46 EPS for the quarter, beating the consensus estimate of $0.99 by $0.47. The firm had revenue of $972.30 million during the quarter, compared to analyst estimates of $932.37 million. Dycom Industries had a net margin of 2.68% and a return on equity of 11.38%. Dycom Industries’s revenue was up 23.5% on a year-over-year basis. During the same period last year, the firm posted $0.60 EPS. Sell-side analysts expect that Dycom Industries, Inc. will post 3.68 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on DY. DA Davidson increased their target price on shares of Dycom Industries from $125.00 to $145.00 in a report on Thursday, August 25th. StockNews.com initiated coverage on shares of Dycom Industries in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Craig Hallum increased their price target on shares of Dycom Industries from $121.00 to $133.00 in a research report on Thursday, August 25th. Wells Fargo & Company decreased their price target on shares of Dycom Industries from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, November 14th. Finally, KeyCorp increased their price target on shares of Dycom Industries from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, August 23rd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Dycom Industries presently has a consensus rating of “Buy” and a consensus price target of $128.00.

Dycom Industries Company Profile

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Dycom Industries, Inc provides specialty contracting services in the United States. The company offers program management and engineering services; plans and designs aerial, underground, and buried fiber optic, copper, and coaxial cable systems; and construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

See Also

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

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