Mackenzie Financial Corp Acquires Shares of 1,801 Dycom Industries, Inc. (NYSE:DY)

Mackenzie Financial Corp bought a new position in shares of Dycom Industries, Inc. (NYSE:DY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,801 shares of the construction company’s stock, valued at approximately $207,000.

A number of other large investors have also made changes to their positions in the stock. Strs Ohio boosted its position in shares of Dycom Industries by 50.0% during the 4th quarter. Strs Ohio now owns 1,500 shares of the construction company’s stock valued at $172,000 after acquiring an additional 500 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in Dycom Industries in the 4th quarter valued at about $246,000. Louisiana State Employees Retirement System acquired a new position in Dycom Industries in the 4th quarter valued at about $1,692,000. International Assets Investment Management LLC purchased a new stake in shares of Dycom Industries in the 4th quarter valued at approximately $6,623,000. Finally, Wakefield Asset Management LLLP increased its holdings in shares of Dycom Industries by 11.1% during the 4th quarter. Wakefield Asset Management LLLP now owns 8,316 shares of the construction company’s stock worth $957,000 after buying an additional 833 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on DY. KeyCorp upped their price objective on Dycom Industries from $136.00 to $149.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. B. Riley raised Dycom Industries from a “neutral” rating to a “buy” rating and upped their price target for the company from $101.00 to $172.00 in a research note on Friday, March 8th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $135.50.

Insiders Place Their Bets

In other news, VP Jason T. Lawson sold 220 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $140.27, for a total value of $30,859.40. Following the completion of 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 legal filing with the SEC, which is available at the SEC website. Insiders own 4.28% of the company’s stock.

Dycom Industries Stock Performance

NYSE:DY opened at $143.41 on Tuesday. The stock has a market capitalization of $4.17 billion, a P/E ratio of 19.46, a PEG ratio of 0.84 and a beta of 1.38. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.85 and a current ratio of 3.06. Dycom Industries, Inc. has a fifty-two week low of $78.42 and a fifty-two week high of $146.32. The company has a 50 day moving average price of $136.33 and a 200 day moving average price of $115.11.

Dycom Industries (NYSE:DY) last posted 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). Dycom Industries had a net margin of 5.24% and a return on equity of 22.06%. The firm had revenue of $952.50 million during the quarter, compared to analysts’ expectations of $968.87 million. During the same quarter in the prior year, the firm posted $0.83 EPS. Dycom Industries’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts forecast that Dycom Industries, Inc. will post 7.13 EPS for the current 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.