AQR Capital Management LLC Sells 1,104 Shares of Dycom Industries, Inc. (NYSE:DY)

AQR Capital Management LLC reduced its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 4.6% in the second quarter, HoldingsChannel.com reports. The fund owned 23,039 shares of the construction company’s stock after selling 1,104 shares during the quarter. AQR Capital Management LLC’s holdings in Dycom Industries were worth $3,888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its stake in Dycom Industries by 2,353.9% during the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock worth $26,831,000 after purchasing an additional 152,509 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Dycom Industries by 2,543.6% in the second quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company’s stock worth $17,399,000 after buying an additional 99,200 shares in the last quarter. Appian Way Asset Management LP grew its position in Dycom Industries by 84.2% during the first quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company’s stock valued at $28,328,000 after acquiring an additional 90,198 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Dycom Industries by 36.3% during the fourth quarter. First Trust Advisors LP now owns 271,782 shares of the construction company’s stock worth $31,279,000 after acquiring an additional 72,415 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Dycom Industries by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock worth $366,406,000 after acquiring an additional 42,121 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Trading Up 2.2 %

DY opened at $190.88 on Friday. Dycom Industries, Inc. has a one year low of $78.42 and a one year high of $199.77. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25. The business has a 50 day simple moving average of $183.46 and a two-hundred day simple moving average of $167.70. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 2.09 and a beta of 1.41.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.20. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.03 earnings per share. Analysts predict that Dycom Industries, Inc. will post 8.02 EPS for the current year.

Wall Street Analysts Forecast Growth

DY has been the topic of several recent research reports. KeyCorp increased their target price on shares of Dycom Industries from $195.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. B. Riley raised their price objective on Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. StockNews.com lowered Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company increased their target price on Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, Bank of America lifted their price target on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Dycom Industries currently has a consensus rating of “Buy” and a consensus price target of $199.57.

Insider Activity

In related news, VP Jason T. Lawson sold 856 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $174.48, for a total value of $149,354.88. Following the completion of the transaction, the vice president now directly owns 6,937 shares of the company’s stock, valued at $1,210,367.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.28% of the company’s stock.

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.