Jefferies Financial Group Inc. Purchases New Position in Dycom Industries, Inc. (NYSE:DY)

Jefferies Financial Group Inc. acquired a new position in Dycom Industries, Inc. (NYSE:DY) during the first quarter, HoldingsChannel reports. The institutional investor acquired 36,799 shares of the construction company’s stock, valued at approximately $5,606,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc purchased a new stake in Dycom Industries in the first quarter worth about $28,000. GeoWealth Management LLC grew its holdings in Dycom Industries by 35.9% in the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company’s stock worth $61,000 after purchasing an additional 92 shares during the period. Anchor Investment Management LLC grew its holdings in Dycom Industries by 37.5% in the fourth quarter. Anchor Investment Management LLC now owns 367 shares of the construction company’s stock worth $64,000 after purchasing an additional 100 shares during the period. Federated Hermes Inc. grew its holdings in Dycom Industries by 107.0% in the fourth quarter. Federated Hermes Inc. now owns 387 shares of the construction company’s stock worth $67,000 after purchasing an additional 200 shares during the period. Finally, Archer Investment Corp purchased a new stake in Dycom Industries in the first quarter worth about $99,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DY. B. Riley upped their price objective on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Raymond James Financial upped their price objective on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 22nd. DA Davidson upped their price objective on shares of Dycom Industries from $220.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. KeyCorp upped their target price on shares of Dycom Industries from $255.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Dycom Industries from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $259.00.

Dycom Industries Trading Down 2.0%

Shares of NYSE DY opened at $263.42 on Friday. The firm’s 50 day moving average price is $245.06 and its 200-day moving average price is $196.82. The company has a market cap of $7.62 billion, a PE ratio of 33.39, a P/E/G ratio of 1.53 and a beta of 1.32. Dycom Industries, Inc. has a 52-week low of $131.37 and a 52-week high of $271.80. 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 earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.47. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.19 billion. Dycom Industries had a net margin of 4.81% and a return on equity of 20.04%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.12 earnings per share. On average, equities research analysts expect that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal 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.