Dycom Industries, Inc. (NYSE:DY) Shares Acquired by KBC Group NV

KBC Group NV increased its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 18.0% in the third quarter, HoldingsChannel reports. The firm owned 872 shares of the construction company’s stock after buying an additional 133 shares during the quarter. KBC Group NV’s holdings in Dycom Industries were worth $172,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DY. Ironwood Investment Management LLC grew its holdings in shares of Dycom Industries by 0.4% during the 2nd quarter. Ironwood Investment Management LLC now owns 14,625 shares of the construction company’s stock worth $2,468,000 after purchasing an additional 58 shares during the period. Anchor Investment Management LLC raised its position in shares of Dycom Industries by 50.4% in the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. Somerset Trust Co raised its position in shares of Dycom Industries by 1.6% in the 2nd quarter. Somerset Trust Co now owns 4,448 shares of the construction company’s stock valued at $751,000 after purchasing an additional 68 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Dycom Industries by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 8,145 shares of the construction company’s stock valued at $1,375,000 after acquiring an additional 82 shares during the last quarter. Finally, Inspire Advisors LLC increased its holdings in shares of Dycom Industries by 1.3% in the 2nd quarter. Inspire Advisors LLC now owns 7,059 shares of the construction company’s stock valued at $1,191,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on DY shares. Bank of America upped their price objective on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. KeyCorp lifted their price target on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. DA Davidson restated a “buy” rating and set a $210.00 price objective on shares of Dycom Industries in a report on Tuesday. Wells Fargo & Company increased their target price on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, StockNews.com lowered Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $206.13.

Dycom Industries Stock Performance

DY stock opened at $176.56 on Thursday. Dycom Industries, Inc. has a 12 month low of $96.50 and a 12 month high of $207.20. The firm has a 50 day moving average of $189.40 and a two-hundred day moving average of $178.80. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 1.55 and a beta of 1.44.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the business earned $2.03 earnings per share. Dycom Industries’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that Dycom Industries, Inc. will post 7.96 EPS for the current fiscal year.

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.