CIBC Asset Management Inc Has $472,000 Position in Dycom Industries, Inc. (NYSE:DY)

CIBC Asset Management Inc cut its position in shares of Dycom Industries, Inc. (NYSE:DY) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,797 shares of the construction company’s stock after selling 165 shares during the period. CIBC Asset Management Inc’s holdings in Dycom Industries were worth $472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DY. Victory Capital Management Inc. raised its stake in Dycom Industries by 4.8% in the 4th quarter. Victory Capital Management Inc. now owns 9,048 shares of the construction company’s stock valued at $1,041,000 after acquiring an additional 415 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Dycom Industries in the fourth quarter valued at $393,000. Charles Schwab Investment Management Inc. raised its position in shares of Dycom Industries by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 418,969 shares of the construction company’s stock valued at $48,219,000 after purchasing an additional 18,063 shares during the period. Principal Securities Inc. acquired a new stake in shares of Dycom Industries during the 4th quarter worth about $142,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Dycom Industries by 57.1% during the 4th quarter. BNP Paribas Financial Markets now owns 24,228 shares of the construction company’s stock worth $2,788,000 after buying an additional 8,804 shares during the period. 98.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DY has been the topic of several research analyst reports. B. Riley increased their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a report 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. UBS Group boosted their price target on Dycom Industries from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Craig Hallum increased their price objective on Dycom Industries from $145.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $199.57.

Dycom Industries Price Performance

Shares of NYSE DY opened at $170.00 on Friday. The stock has a market capitalization of $4.95 billion, a PE ratio of 21.91, a P/E/G ratio of 1.88 and a beta of 1.41. Dycom Industries, Inc. has a fifty-two week low of $78.42 and a fifty-two week high of $196.34. 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 fifty day moving average price of $177.23 and a two-hundred day moving average price of $159.60.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.20. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. Dycom Industries’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.03 earnings per share. As a group, equities analysts predict that Dycom Industries, Inc. will post 7.97 earnings per share for the current fiscal year.

Insider Transactions at Dycom Industries

In related news, VP Jason T. Lawson sold 856 shares of Dycom Industries stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $174.48, for a total value of $149,354.88. Following the transaction, the vice president now directly owns 6,937 shares of the company’s stock, valued at $1,210,367.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.28% of the stock is currently owned by insiders.

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.