TD Asset Management Inc Buys 7,500 Shares of Dycom Industries, Inc. (NYSE:DY)

TD Asset Management Inc increased its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 74.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,600 shares of the construction company’s stock after purchasing an additional 7,500 shares during the quarter. TD Asset Management Inc’s holdings in Dycom Industries were worth $2,970,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Somerset Trust Co grew its stake in shares of Dycom Industries by 1.6% during the second quarter. Somerset Trust Co now owns 4,448 shares of the construction company’s stock valued at $751,000 after buying an additional 68 shares during the last quarter. Thompson Davis & CO. Inc. boosted its holdings in Dycom Industries by 2.9% during the 1st quarter. Thompson Davis & CO. Inc. now owns 2,675 shares of the construction company’s stock valued at $384,000 after acquiring an additional 75 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Dycom Industries by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the construction company’s stock valued at $2,464,000 after acquiring an additional 100 shares during the period. First Bank & Trust grew its position in Dycom Industries by 5.7% in the 1st quarter. First Bank & Trust now owns 2,013 shares of the construction company’s stock valued at $289,000 after acquiring an additional 108 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Dycom Industries by 107.8% in the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock worth $49,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DY. KeyCorp boosted their target price on shares of Dycom Industries from $195.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. UBS Group boosted their price objective on shares of Dycom Industries from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Bank of America raised their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their price target on Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, Raymond James raised their price objective on Dycom Industries from $143.00 to $195.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Dycom Industries currently has a consensus rating of “Buy” and an average target price of $199.57.

Dycom Industries Price Performance

Shares of DY opened at $184.21 on Friday. The stock has a market capitalization of $5.36 billion, a PE ratio of 23.76, a PEG ratio of 1.81 and a beta of 1.41. The company has a 50 day moving average price of $177.87 and a 200-day moving average price of $160.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.44. Dycom Industries, Inc. has a fifty-two week low of $78.42 and a fifty-two week high of $196.34.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share 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%. Dycom Industries’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 earnings per share. 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 other Dycom Industries news, VP Jason T. Lawson sold 856 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now owns 6,937 shares of the company’s stock, valued at $1,210,367.76. The transaction was disclosed in a filing with the SEC, 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.