Fulton Bank N.A. Buys 438 Shares of Dycom Industries, Inc. (NYSE:DY)

Fulton Bank N.A. raised its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,146 shares of the construction company’s stock after acquiring an additional 438 shares during the quarter. Fulton Bank N.A.’s holdings in Dycom Industries were worth $592,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of Dycom Industries by 6.4% in the first quarter. JPMorgan Chase & Co. now owns 49,555 shares of the construction company’s stock valued at $4,721,000 after buying an additional 2,993 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Dycom Industries by 86.3% in the first quarter. Raymond James & Associates now owns 7,429 shares of the construction company’s stock valued at $708,000 after buying an additional 3,441 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Dycom Industries by 40.0% in the first quarter. MetLife Investment Management LLC now owns 34,082 shares of the construction company’s stock valued at $3,247,000 after buying an additional 9,731 shares during the last quarter. Panagora Asset Management Inc. bought a new position in shares of Dycom Industries in the first quarter valued at about $210,000. Finally, Rhumbline Advisers raised its holdings in shares of Dycom Industries by 1.3% in the first quarter. Rhumbline Advisers now owns 87,563 shares of the construction company’s stock valued at $8,341,000 after buying an additional 1,159 shares during the last quarter. 98.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Dycom Industries

In other Dycom Industries news, VP Jason T. Lawson sold 220 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 7,793 shares in the company, valued at approximately $1,093,124.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.25% of the company’s stock.

Wall Street Analysts Forecast Growth

DY has been the subject of a number of research reports. KeyCorp lifted their price objective on Dycom Industries from $136.00 to $149.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. B. Riley upgraded Dycom Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $101.00 to $172.00 in a research report on Friday, March 8th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Dycom Industries currently has an average rating of “Buy” and an average target price of $135.50.

Dycom Industries Price Performance

Shares of DY opened at $142.32 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.85 and a current ratio of 3.06. The stock has a 50 day simple moving average of $128.78 and a 200 day simple moving average of $109.29. Dycom Industries, Inc. has a 52-week low of $78.42 and a 52-week high of $146.32. The firm has a market capitalization of $4.14 billion, a PE ratio of 19.31, a P/E/G ratio of 0.84 and a beta of 1.38.

Dycom Industries (NYSE:DY) last issued 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 business 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%. Dycom Industries’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Sell-side analysts predict that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

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.