Dycom Industries, Inc. (NYSE:DY) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. boosted its holdings in Dycom Industries, Inc. (NYSE:DY) by 44.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,373 shares of the construction company’s stock after acquiring an additional 1,339 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Dycom Industries were worth $503,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DY. BlackRock Inc. lifted its holdings in Dycom Industries by 40.1% in the first quarter. BlackRock Inc. now owns 4,639,633 shares of the construction company’s stock valued at $434,502,000 after acquiring an additional 1,327,595 shares during the last quarter. Millennium Management LLC lifted its stake in Dycom Industries by 149.4% during the fourth quarter. Millennium Management LLC now owns 883,489 shares of the construction company’s stock worth $82,695,000 after purchasing an additional 529,178 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Dycom Industries by 43.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,728,780 shares of the construction company’s stock worth $161,814,000 after purchasing an additional 524,292 shares in the last quarter. Norges Bank acquired a new position in Dycom Industries during the fourth quarter worth $31,646,000. Finally, Alyeska Investment Group L.P. acquired a new position in Dycom Industries during the fourth quarter worth $15,821,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. B. Riley upgraded Dycom Industries from a “neutral” rating to a “buy” rating and upped their price target for the stock from $101.00 to $172.00 in a research note on Friday, March 8th. KeyCorp upped their price target on Dycom Industries from $136.00 to $149.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. One investment 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 company’s stock. Based on data from MarketBeat.com, Dycom Industries currently has an average rating of “Buy” and an average price target of $135.50.

Dycom Industries Stock Up 0.7 %

Shares of NYSE DY opened at $135.62 on Friday. The stock has a market cap of $3.95 billion, a P/E ratio of 18.40, a PEG ratio of 0.79 and a beta of 1.38. The company has a current ratio of 3.06, a quick ratio of 2.85 and a debt-to-equity ratio of 0.75. Dycom Industries, Inc. has a 12-month low of $78.42 and a 12-month high of $146.32. The business’s fifty day simple moving average is $133.32 and its 200-day simple moving average is $112.42.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, February 28th. The construction company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.15). The company had revenue of $952.50 million during the quarter, compared to analyst estimates of $968.87 million. Dycom Industries had a net margin of 5.24% and a return on equity of 22.06%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 earnings per share. As a group, equities analysts predict that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Insider Activity

In related news, VP Jason T. Lawson sold 220 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $140.27, for a total value of $30,859.40. Following the transaction, the vice president now owns 7,793 shares of the company’s stock, valued at $1,093,124.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.25% of the company’s stock.

About Dycom Industries

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.