Canada Pension Plan Investment Board grew its stake in Dycom Industries, Inc. (NYSE:DY) by 4,650.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,000 shares of the construction company’s stock after purchasing an additional 93,000 shares during the period. Canada Pension Plan Investment Board owned about 0.30% of Dycom Industries worth $8,037,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its position in shares of Dycom Industries by 6,483.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 785,814 shares of the construction company’s stock valued at $1,035,000 after buying an additional 773,878 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Dycom Industries by 31.1% during the 2nd quarter. Schroder Investment Management Group now owns 718,903 shares of the construction company’s stock valued at $67,929,000 after buying an additional 170,344 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Dycom Industries by 35.8% during the 3rd quarter. American Century Companies Inc. now owns 458,070 shares of the construction company’s stock valued at $38,753,000 after buying an additional 120,697 shares in the last quarter. Scout Investments Inc. lifted its position in shares of Dycom Industries by 56.0% during the 3rd quarter. Scout Investments Inc. now owns 322,072 shares of the construction company’s stock valued at $27,247,000 after buying an additional 115,624 shares in the last quarter. Finally, Delek Group Ltd. purchased a new position in shares of Dycom Industries during the 2nd quarter valued at approximately $10,396,000. Institutional investors and hedge funds own 99.21% of the company’s stock.
NYSE DY opened at $56.18 on Friday. Dycom Industries, Inc. has a one year low of $55.85 and a one year high of $123.99. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.78 and a quick ratio of 3.48. The firm has a market capitalization of $1.91 billion, a P/E ratio of 21.77, a PEG ratio of 2.54 and a beta of 1.44.
Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Tuesday, November 20th. The construction company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $848.20 million during the quarter, compared to the consensus estimate of $806.88 million. During the same period in the prior year, the company earned $0.99 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. On average, sell-side analysts forecast that Dycom Industries, Inc. will post 2.83 earnings per share for the current year.
Dycom Industries declared that its board has approved a stock buyback plan on Wednesday, August 29th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to purchase up to 6.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
A number of research analysts have recently issued reports on the company. B. Riley reiterated a “neutral” rating and set a $84.00 target price (up previously from $75.00) on shares of Dycom Industries in a research report on Thursday, September 27th. Wells Fargo & Co decreased their target price on Dycom Industries from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, August 30th. Deutsche Bank set a $93.00 target price on Dycom Industries and gave the company a “buy” rating in a research report on Thursday, August 30th. Canaccord Genuity reiterated a “buy” rating and set a $90.00 target price on shares of Dycom Industries in a research report on Wednesday, August 29th. Finally, Zacks Investment Research upgraded Dycom Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Dycom Industries currently has an average rating of “Buy” and a consensus price target of $96.70.
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About Dycom Industries
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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