Kornitzer Capital Management Inc. KS Acquires New Position in Dycom Industries, Inc. (NYSE:DY)

Kornitzer Capital Management Inc. KS acquired a new stake in shares of Dycom Industries, Inc. (NYSE:DY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 67,780 shares of the construction company’s stock, valued at approximately $3,460,000. Kornitzer Capital Management Inc. KS owned 0.22% of Dycom Industries as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Dycom Industries by 2.6% during the second quarter. Vanguard Group Inc. now owns 2,853,694 shares of the construction company’s stock worth $167,996,000 after purchasing an additional 73,091 shares during the last quarter. Northern Trust Corp increased its position in shares of Dycom Industries by 2.3% in the second quarter. Northern Trust Corp now owns 556,836 shares of the construction company’s stock worth $32,780,000 after acquiring an additional 12,308 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Dycom Industries by 49.8% in the second quarter. Russell Investments Group Ltd. now owns 409,820 shares of the construction company’s stock worth $24,120,000 after acquiring an additional 136,286 shares in the last quarter. Investment Counselors of Maryland LLC increased its position in shares of Dycom Industries by 1.2% in the second quarter. Investment Counselors of Maryland LLC now owns 379,053 shares of the construction company’s stock worth $22,315,000 after acquiring an additional 4,313 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Dycom Industries by 132.7% in the second quarter. Renaissance Technologies LLC now owns 352,700 shares of the construction company’s stock worth $20,763,000 after acquiring an additional 201,100 shares in the last quarter. 95.41% of the stock is currently owned by institutional investors and hedge funds.

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

DY traded up $0.75 during trading hours on Friday, reaching $50.76. 183,137 shares of the stock traded hands, compared to its average volume of 448,870. The firm’s fifty day simple moving average is $48.85 and its two-hundred day simple moving average is $50.58. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 2.73 and a beta of 1.34. Dycom Industries, Inc. has a fifty-two week low of $40.06 and a fifty-two week high of $75.32. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.66 and a quick ratio of 3.36.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, August 28th. The construction company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.25. The business had revenue of $884.20 million during the quarter, compared to analyst estimates of $857.82 million. Dycom Industries had a net margin of 1.81% and a return on equity of 10.45%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $1.05 EPS. On average, research analysts predict that Dycom Industries, Inc. will post 2.46 earnings per share for the current year.

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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