Yousif Capital Management LLC Decreases Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

Yousif Capital Management LLC decreased its position in Dycom Industries, Inc. (NYSE:DY) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,871 shares of the construction company’s stock after selling 204 shares during the quarter. Yousif Capital Management LLC’s holdings in Dycom Industries were worth $1,656,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc purchased a new position in shares of Dycom Industries during the first quarter valued at about $28,000. EverSource Wealth Advisors LLC lifted its stake in shares of Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock worth $59,000 after buying an additional 71 shares in the last quarter. GeoWealth Management LLC lifted its stake in shares of Dycom Industries by 35.9% in the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company’s stock worth $61,000 after buying an additional 92 shares in the last quarter. Anchor Investment Management LLC lifted its position in Dycom Industries by 37.5% during the fourth quarter. Anchor Investment Management LLC now owns 367 shares of the construction company’s stock valued at $64,000 after purchasing an additional 100 shares during the period. Finally, Federated Hermes Inc. lifted its position in Dycom Industries by 107.0% during the fourth quarter. Federated Hermes Inc. now owns 387 shares of the construction company’s stock valued at $67,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DY shares. Raymond James increased their price target on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 22nd. UBS Group lifted their price objective on shares of Dycom Industries from $234.00 to $258.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. KeyCorp lowered their target price on shares of Dycom Industries from $201.00 to $183.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. B. Riley lifted their price objective on shares of Dycom Industries from $200.00 to $265.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, DA Davidson boosted their price target on shares of Dycom Industries from $220.00 to $265.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $241.25.

Dycom Industries Stock Down 0.0%

NYSE:DY opened at $233.14 on Tuesday. The company’s 50 day moving average is $194.31 and its two-hundred day moving average is $180.09. The company has a market cap of $6.74 billion, a PE ratio of 30.68, a P/E/G ratio of 1.29 and a beta of 1.32. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $243.38.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.47. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.12 EPS. Analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Dycom Industries announced that its board has initiated a share buyback program on Wednesday, February 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.