Carillon Tower Advisers Inc. grew its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 53.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 238,559 shares of the construction company’s stock after purchasing an additional 83,578 shares during the quarter. Carillon Tower Advisers Inc. owned approximately 0.76% of Dycom Industries worth $20,182,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in DY. Canada Pension Plan Investment Board purchased a new stake in shares of Dycom Industries during the 2nd quarter valued at $189,000. Engineers Gate Manager LP purchased a new stake in shares of Dycom Industries during the 3rd quarter valued at $203,000. Point72 Hong Kong Ltd increased its position in shares of Dycom Industries by 388.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,283 shares of the construction company’s stock valued at $216,000 after purchasing an additional 1,816 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Dycom Industries during the 2nd quarter valued at $236,000. Finally, Cim Investment Mangement Inc. increased its position in shares of Dycom Industries by 33.3% during the 2nd quarter. Cim Investment Mangement Inc. now owns 2,599 shares of the construction company’s stock valued at $246,000 after purchasing an additional 649 shares during the last quarter.
Shares of DY opened at $61.03 on Friday. Dycom Industries, Inc. has a fifty-two week low of $57.49 and a fifty-two week high of $123.99. The stock has a market capitalization of $1.92 billion, a P/E ratio of 21.86, a PEG ratio of 2.55 and a beta of 1.41. The company has a quick ratio of 3.48, a current ratio of 3.78 and a debt-to-equity ratio of 1.06.
Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Tuesday, November 20th. The construction company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.08. Dycom Industries had a return on equity of 11.38% and a net margin of 3.79%. The company had revenue of $848.20 million during the quarter, compared to analyst estimates of $806.88 million. During the same quarter last year, the firm posted $0.99 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. Sell-side analysts expect that Dycom Industries, Inc. will post 2.83 earnings per share for the current year.
Dycom Industries declared that its board has authorized a share buyback plan on Wednesday, August 29th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to buy up to 6.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
Several brokerages have recently issued reports on DY. Canaccord Genuity reaffirmed a “buy” rating and set a $90.00 target price (down from $120.00) on shares of Dycom Industries in a research report on Tuesday, August 14th. Zacks Investment Research raised Dycom Industries from a “sell” rating to a “hold” rating in a report on Monday, August 6th. DA Davidson decreased their price objective on Dycom Industries to $77.00 and set a “neutral” rating for the company in a report on Tuesday, August 14th. Deutsche Bank set a $93.00 price objective on Dycom Industries and gave the stock a “buy” rating in a report on Thursday, August 30th. Finally, TheStreet lowered Dycom Industries from a “b-” rating to a “c+” rating in a report on Friday, October 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Dycom Industries has an average rating of “Buy” and an average price target of $96.70.
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Dycom Industries Company Profile
Dycom Industries, Inc provides specialty contracting services in the United States and Canada. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.
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