AQR Capital Management LLC Trims Holdings in Dycom Industries, Inc. (NYSE:DY)

AQR Capital Management LLC trimmed its stake in Dycom Industries, Inc. (NYSE:DY) by 67.8% during the second quarter, Holdings Channel.com reports. The fund owned 5,695 shares of the construction company’s stock after selling 12,017 shares during the period. AQR Capital Management LLC’s holdings in Dycom Industries were worth $335,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Algert Global LLC purchased a new stake in shares of Dycom Industries in the 2nd quarter valued at approximately $936,000. Invesco Ltd. increased its stake in Dycom Industries by 2.0% during the 2nd quarter. Invesco Ltd. now owns 258,087 shares of the construction company’s stock worth $15,192,000 after buying an additional 5,177 shares during the period. Vanguard Group Inc. increased its stake in Dycom Industries by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,853,694 shares of the construction company’s stock worth $167,996,000 after buying an additional 73,091 shares during the period. Private Advisor Group LLC purchased a new stake in Dycom Industries during the 2nd quarter worth approximately $540,000. Finally, A.R.T. Advisors LLC increased its stake in Dycom Industries by 358.9% during the 2nd quarter. A.R.T. Advisors LLC now owns 61,501 shares of the construction company’s stock worth $3,621,000 after buying an additional 48,100 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of DY opened at $47.91 on Friday. Dycom Industries, Inc. has a fifty-two week low of $40.06 and a fifty-two week high of $79.90. The firm’s 50 day moving average price is $47.22 and its 200 day moving average price is $50.39. The company has a market cap of $1.51 billion, a P/E ratio of 17.23, a PEG ratio of 2.45 and a beta of 1.36. The company has a quick ratio of 3.36, a current ratio of 3.66 and a debt-to-equity ratio of 1.14.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 28th. The construction company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.25. Dycom Industries had a net margin of 1.81% and a return on equity of 10.45%. The firm had revenue of $884.20 million for the quarter, compared to the consensus estimate of $857.82 million. During the same period in the prior year, the firm earned $1.05 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts forecast that Dycom Industries, Inc. will post 2.46 earnings per share for the current year.

DY has been the topic of several recent research reports. B. Riley cut their target price on shares of Dycom Industries from $61.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Wells Fargo & Co upped their target price on shares of Dycom Industries from $52.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $61.38.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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Institutional Ownership by Quarter for Dycom Industries (NYSE:DY)

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