Dycom Industries (NYSE:DY) Issues Quarterly Earnings Results

Dycom Industries (NYSE:DY) posted its quarterly earnings data on Wednesday. The construction company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $1.69, FiscalAI reports. Dycom Industries had a net margin of 5.07% and a return on equity of 21.77%.

Dycom Industries Stock Up 2.5%

Dycom Industries stock opened at $421.68 on Wednesday. Dycom Industries has a twelve month low of $223.19 and a twelve month high of $464.82. The stock has a 50 day moving average of $392.07 and a two-hundred day moving average of $372.25. The company has a current ratio of 2.74, a quick ratio of 2.61 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 43.93, a PEG ratio of 0.94 and a beta of 1.46.

Analyst Ratings Changes

DY has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their target price on Dycom Industries from $395.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Zacks Research upgraded shares of Dycom Industries from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. UBS Group set a $475.00 price objective on shares of Dycom Industries and gave the stock a “buy” rating in a report on Friday, March 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $436.00 price objective on shares of Dycom Industries in a report on Friday, March 27th. Finally, B. Riley Financial upped their target price on shares of Dycom Industries from $420.00 to $485.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $431.64.

Institutional Investors Weigh In On Dycom Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp increased its position in shares of Dycom Industries by 4,626.1% in the first quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock valued at $331,000 after buying an additional 2,128 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Dycom Industries by 7.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock worth $10,622,000 after buying an additional 4,985 shares during the period. Invesco Ltd. lifted its position in Dycom Industries by 7.0% during the second quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock worth $55,508,000 after buying an additional 14,891 shares during the period. EverSource Wealth Advisors LLC lifted its position in Dycom Industries by 73.1% during the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock worth $39,000 after buying an additional 68 shares during the period. Finally, Cerity Partners LLC lifted its position in Dycom Industries by 8.9% during the second quarter. Cerity Partners LLC now owns 2,239 shares of the construction company’s stock worth $547,000 after buying an additional 183 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

About Dycom Industries

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.