Dycom Industries (NYSE:DY) Posts Earnings Results, Beats Estimates By $1.03 EPS

Dycom Industries (NYSE:DY – Get Rating) posted its quarterly earnings results on Wednesday. The construction company reported $1.73 EPS for the quarter, topping the consensus estimate of $0.70 by $1.03, Briefing.com reports. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $940.22 million. Dycom Industries had a net margin of 4.38% and a return on equity of 19.99%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS.

Dycom Industries Trading Up 3.6 %

DY opened at $100.50 on Friday. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 17.27 and a beta of 1.30. The company has a current ratio of 3.43, a quick ratio of 2.93 and a debt-to-equity ratio of 0.90. Dycom Industries has a 12 month low of $77.33 and a 12 month high of $122.13. The stock has a fifty day moving average price of $93.81 and a 200-day moving average price of $93.67.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group raised their target price on shares of Dycom Industries from $124.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Wells Fargo & Company upgraded Dycom Industries from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $105.00 to $120.00 in a report on Thursday. StockNews.com began coverage on Dycom Industries in a report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Craig Hallum upped their target price on Dycom Industries from $110.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 2nd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $128.80.

Insider Transactions at Dycom Industries

In other news, VP Ryan F. Urness sold 3,300 shares of the business’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $94.90, for a total value of $313,170.00. Following the completion of the transaction, the vice president now directly owns 26,242 shares of the company’s stock, valued at approximately $2,490,365.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Ryan F. Urness sold 3,300 shares of the business’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $94.90, for a total value of $313,170.00. Following the completion of the transaction, the vice president now directly owns 26,242 shares of the company’s stock, valued at approximately $2,490,365.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO H Andrew Deferrari sold 10,282 shares of the business’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $94.11, for a total value of $967,639.02. Following the completion of the transaction, the chief financial officer now directly owns 148,425 shares of the company’s stock, valued at $13,968,276.75. The disclosure for this sale can be found here. Corporate insiders own 4.25% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DY. Rockefeller Capital Management L.P. increased its position in Dycom Industries by 114.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 490 shares of the construction company’s stock valued at $45,000 after buying an additional 261 shares in the last quarter. SkyView Investment Advisors LLC acquired a new position in Dycom Industries during the 1st quarter valued at about $173,000. Captrust Financial Advisors increased its position in Dycom Industries by 61.8% during the 1st quarter. Captrust Financial Advisors now owns 1,974 shares of the construction company’s stock valued at $188,000 after buying an additional 754 shares in the last quarter. Advisor Group Holdings Inc. increased its position in Dycom Industries by 32.2% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,023 shares of the construction company’s stock valued at $190,000 after buying an additional 493 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in Dycom Industries during the 1st quarter valued at about $210,000. 92.82% of the stock is owned by institutional investors.

About Dycom Industries

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Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.