Oppenheimer & Co. Inc. Purchases 1,069 Shares of Dycom Industries, Inc. (NYSE:DY)

Oppenheimer & Co. Inc. grew its position in shares of Dycom Industries, Inc. (NYSE:DY) by 17.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,270 shares of the construction company’s stock after purchasing an additional 1,069 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Dycom Industries were worth $1,433,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DY. Assenagon Asset Management S.A. lifted its stake in shares of Dycom Industries by 2,353.9% in the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock worth $26,831,000 after acquiring an additional 152,509 shares during the period. Renaissance Technologies LLC lifted its position in shares of Dycom Industries by 2,543.6% in the 2nd quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company’s stock worth $17,399,000 after purchasing an additional 99,200 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Dycom Industries in the 3rd quarter valued at $19,424,000. Millennium Management LLC increased its position in shares of Dycom Industries by 6.3% during the second quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock worth $275,324,000 after buying an additional 96,846 shares during the period. Finally, Appian Way Asset Management LP raised its stake 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 worth $28,328,000 after buying an additional 90,198 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Trading Up 1.5 %

NYSE DY opened at $187.52 on Monday. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81. Dycom Industries, Inc. has a 52 week low of $84.83 and a 52 week high of $207.20. The business has a 50 day moving average price of $188.73 and a 200-day moving average price of $178.01. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 23.29, a P/E/G ratio of 1.55 and a beta of 1.44.

Dycom Industries (NYSE:DY) last announced 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. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business posted $2.03 EPS. Dycom Industries’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities analysts expect that Dycom Industries, Inc. will post 7.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DY has been the topic of a number of research analyst reports. B. Riley upped their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. StockNews.com lowered Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company raised their target price on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday. KeyCorp increased their price target on Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Bank of America lifted their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the company 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $205.57.

Dycom Industries 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.