Dycom Industries, Inc. (NYSE:DY) Shares Bought by Somerset Trust Co

Somerset Trust Co boosted its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 28.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,949 shares of the construction company’s stock after buying an additional 1,320 shares during the period. Somerset Trust Co’s holdings in Dycom Industries were worth $906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Corient Private Wealth LLC increased its holdings in shares of Dycom Industries by 0.8% in the fourth quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company’s stock valued at $1,221,000 after purchasing an additional 55 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in shares of Dycom Industries by 11.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock valued at $98,000 after purchasing an additional 56 shares during the period. Arizona State Retirement System increased its holdings in shares of Dycom Industries by 0.8% in the fourth quarter. Arizona State Retirement System now owns 8,447 shares of the construction company’s stock valued at $1,470,000 after purchasing an additional 70 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock valued at $59,000 after purchasing an additional 71 shares during the period. Finally, Ironwood Investment Management LLC increased its holdings in shares of Dycom Industries by 0.6% in the fourth quarter. Ironwood Investment Management LLC now owns 14,795 shares of the construction company’s stock valued at $2,575,000 after purchasing an additional 89 shares during the period. 98.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DY. Wells Fargo & Company increased their price objective on Dycom Industries from $215.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday. Wall Street Zen lowered Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday. KeyCorp lowered their target price on Dycom Industries from $201.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. DA Davidson upped their target price on Dycom Industries from $220.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Finally, B. Riley upped their target price on Dycom Industries from $200.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Dycom Industries has a consensus rating of “Buy” and a consensus price target of $241.25.

Dycom Industries Stock Up 0.6%

Shares of DY opened at $229.66 on Friday. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $230.57. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 1.29 and a beta of 1.27. The stock’s 50-day moving average price is $175.29 and its 200-day moving average price is $176.30.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.19 billion. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. Dycom Industries’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.12 earnings per share. On average, sell-side analysts predict that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Dycom Industries declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.