TradeLink Capital LLC Buys New Shares in Dycom Industries, Inc. (NYSE:DY)

TradeLink Capital LLC purchased a new stake in Dycom Industries, Inc. (NYSE:DY) during the 1st quarter, Holdings Channel reports. The firm purchased 3,213 shares of the construction company’s stock, valued at approximately $489,000. Dycom Industries makes up about 3.0% of TradeLink Capital LLC’s portfolio, making the stock its 12th biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DY. American Century Companies Inc. grew its holdings in shares of Dycom Industries by 108.1% in the 4th quarter. American Century Companies Inc. now owns 35,575 shares of the construction company’s stock valued at $6,192,000 after acquiring an additional 18,476 shares in the last quarter. LPL Financial LLC boosted its position in Dycom Industries by 15.1% during the fourth quarter. LPL Financial LLC now owns 10,113 shares of the construction company’s stock valued at $1,760,000 after purchasing an additional 1,326 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Dycom Industries by 119.8% in the fourth quarter. JPMorgan Chase & Co. now owns 176,572 shares of the construction company’s stock valued at $30,734,000 after purchasing an additional 96,252 shares in the last quarter. Norges Bank acquired a new position in shares of Dycom Industries during the 4th quarter worth approximately $55,802,000. Finally, Pictet Asset Management Holding SA raised its stake in shares of Dycom Industries by 8.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,190 shares of the construction company’s stock worth $729,000 after purchasing an additional 324 shares in the last quarter. 98.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DY has been the subject of several analyst reports. DA Davidson raised their target price on shares of Dycom Industries from $220.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Dycom Industries from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, May 22nd. UBS Group boosted their price objective on shares of Dycom Industries from $258.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, July 10th. Wells Fargo & Company raised their target price on shares of Dycom Industries from $215.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. Finally, Wall Street Zen upgraded Dycom Industries from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Dycom Industries currently has an average rating of “Buy” and a consensus price target of $259.00.

Dycom Industries Stock Performance

Shares of DY stock opened at $268.56 on Thursday. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $271.41. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 1.53 and a beta of 1.32. The company has a 50-day simple moving average of $242.53 and a 200 day simple moving average of $195.10. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.68 and a current ratio of 2.89.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.47. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.12 earnings per share. On average, sell-side analysts predict that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Dycom Industries 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.