Assenagon Asset Management S.A. Reduces Stake in Dycom Industries, Inc. (NYSE:DY)

Assenagon Asset Management S.A. lessened its position in shares of Dycom Industries, Inc. (NYSE:DY) by 36.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 101,664 shares of the construction company’s stock after selling 57,324 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Dycom Industries were worth $20,038,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its position in shares of Dycom Industries by 33.1% during the 1st quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company’s stock valued at $4,630,000 after purchasing an additional 8,028 shares during the last quarter. Sheets Smith Wealth Management raised its position in Dycom Industries by 100.0% in the first quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock worth $1,009,000 after acquiring an additional 3,514 shares during the period. Vanguard Group Inc. raised its position in Dycom Industries by 1.3% in the fourth 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 period. UniSuper Management Pty Ltd purchased a new position in shares of Dycom Industries during the 1st quarter worth $794,000. Finally, ClariVest Asset Management LLC bought a new stake in shares of Dycom Industries during the 1st quarter valued at $2,913,000. Institutional investors own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

DY has been the topic of a number of recent research reports. Bank of America raised their target price on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com cut Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company boosted their price objective on Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. KeyCorp raised their target price on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, B. Riley upped their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $203.43.

Dycom Industries Stock Down 1.7 %

NYSE DY opened at $192.02 on Friday. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. Dycom Industries, Inc. has a 12 month low of $78.42 and a 12 month high of $207.20. The stock’s 50 day moving average is $186.98 and its 200 day moving average is $172.89. The stock has a market cap of $5.59 billion, a PE ratio of 24.74, a P/E/G ratio of 1.57 and a beta of 1.41.

Dycom Industries (NYSE:DY) last issued 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 firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. Dycom Industries’s revenue for the quarter 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. Research analysts predict that Dycom Industries, Inc. will post 8.02 EPS for the current fiscal year.

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.