Nuveen Asset Management LLC Increases Stake in Dycom Industries, Inc. (NYSE:DY)

Nuveen Asset Management LLC grew its stake in Dycom Industries, Inc. (NYSE:DY) by 4.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,057 shares of the construction company’s stock after acquiring an additional 5,377 shares during the quarter. Nuveen Asset Management LLC owned about 0.38% of Dycom Industries worth $3,079,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ancora Advisors LLC acquired a new position in Dycom Industries in the 4th quarter valued at about $31,000. Parallel Advisors LLC grew its position in Dycom Industries by 211.0% in the 1st quarter. Parallel Advisors LLC now owns 1,073 shares of the construction company’s stock valued at $27,000 after acquiring an additional 728 shares in the last quarter. First Bank & Trust grew its position in Dycom Industries by 383.1% in the 1st quarter. First Bank & Trust now owns 1,546 shares of the construction company’s stock valued at $40,000 after acquiring an additional 1,226 shares in the last quarter. CA Family Wealth LLC acquired a new position in Dycom Industries in the 4th quarter valued at about $200,000. Finally, Foundry Partners LLC acquired a new position in Dycom Industries in the 4th quarter valued at about $234,000. 98.00% of the stock is owned by institutional investors and hedge funds.

NYSE:DY opened at $40.54 on Wednesday. The firm has a market cap of $1.28 billion, a P/E ratio of 126.69 and a beta of 1.48. The company has a current ratio of 4.51, a quick ratio of 4.29 and a debt-to-equity ratio of 1.69. The stock’s 50 day simple moving average is $38.71 and its 200-day simple moving average is $36.49. Dycom Industries, Inc. has a 12-month low of $12.24 and a 12-month high of $60.55.

Dycom Industries (NYSE:DY) last released its earnings results on Tuesday, May 19th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.42. The business had revenue of $814.30 million for the quarter, compared to analyst estimates of $747.03 million. Dycom Industries had a return on equity of 7.78% and a net margin of 0.32%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. Research analysts forecast that Dycom Industries, Inc. will post 2.02 EPS for the current fiscal year.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Dycom Industries from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Friday, May 22nd. Wells Fargo & Co lifted their price objective on Dycom Industries from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Stifel Nicolaus lifted their price objective on Dycom Industries from $49.00 to $52.50 and gave the company a “buy” rating in a research note on Thursday, May 21st. Vertical Group initiated coverage on Dycom Industries in a research note on Thursday, March 19th. They set a “buy” rating for the company. Finally, DA Davidson boosted their target price on Dycom Industries from $38.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Nine analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $45.21.

In other Dycom Industries news, Director Patricia Higgins sold 4,675 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $44.78, for a total transaction of $209,346.50. Following the sale, the director now directly owns 40,565 shares in the company, valued at $1,816,500.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Steven E. Nielsen sold 187,791 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $42.71, for a total value of $8,020,553.61. Following the sale, the chief executive officer now owns 703,813 shares in the company, valued at $30,059,853.23. The disclosure for this sale can be found here. Corporate insiders own 5.66% of the company’s stock.

Dycom Industries Profile

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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