OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Dycom Industries, Inc. (NYSE:DY – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 6,721 shares of the construction company’s stock, valued at approximately $3,398,000.
A number of other hedge funds have also made changes to their positions in DY. Kemnay Advisory Services Inc. acquired a new stake in Dycom Industries in the fourth quarter valued at $30,000. Harbor Investment Advisory LLC acquired a new position in Dycom Industries during the 2nd quarter worth $52,000. Acumen Wealth Advisors LLC acquired a new position in Dycom Industries during the 4th quarter worth $35,000. Legacy Wealth Managment LLC ID bought a new stake in shares of Dycom Industries in the 4th quarter worth about $39,000. Finally, Nemes Rush Group LLC bought a new stake in shares of Dycom Industries in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 98.33% of the company’s stock.
Dycom Industries Trading Down 0.3%
NYSE DY opened at $401.63 on Friday. Dycom Industries, Inc. has a one year low of $242.55 and a one year high of $566.47. The company has a 50-day simple moving average of $432.83 and a 200-day simple moving average of $415.72. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.46 and a current ratio of 2.58. The firm has a market capitalization of $12.06 billion, a PE ratio of 38.21, a price-to-earnings-growth ratio of 0.71 and a beta of 1.54.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on DY shares. Wedbush set a $654.00 price target on shares of Dycom Industries in a research report on Friday, May 29th. Zacks Research lowered Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Weiss Ratings upgraded Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Cantor Fitzgerald increased their target price on Dycom Industries from $436.00 to $654.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Finally, UBS Group reiterated a “buy” rating on shares of Dycom Industries in a research report on Friday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $578.09.
Get Our Latest Research Report on DY
Dycom Industries Profile
Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.
Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.
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