Advisors Asset Management Inc. Purchases 6,128 Shares of Dycom Industries, Inc. (NYSE:DY)

Advisors Asset Management Inc. grew its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 19.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,911 shares of the construction company's stock after acquiring an additional 6,128 shares during the quarter. Advisors Asset Management Inc. owned about 0.13% of Dycom Industries worth $7,472,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DY. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Dycom Industries during the 3rd quarter worth approximately $269,000. Thompson Davis & CO. Inc. grew its holdings in Dycom Industries by 3.3% during the third quarter. Thompson Davis & CO. Inc. now owns 7,505 shares of the construction company's stock worth $1,479,000 after acquiring an additional 240 shares during the period. Whalen Wealth Management Inc. purchased a new position in Dycom Industries in the third quarter worth $773,000. Braun Stacey Associates Inc. acquired a new stake in Dycom Industries in the third quarter valued at $5,715,000. Finally, Accent Capital Management LLC acquired a new stake in Dycom Industries in the third quarter valued at $25,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Stock Up 4.7 %

NYSE DY traded up $8.31 during trading on Thursday, reaching $184.87. The company's stock had a trading volume of 267,637 shares, compared to its average volume of 299,501. The business has a 50-day moving average price of $189.40 and a 200-day moving average price of $178.80. Dycom Industries, Inc. has a 1-year low of $99.54 and a 1-year high of $207.20. The stock has a market capitalization of $5.38 billion, a PE ratio of 23.19, a PEG ratio of 1.68 and a beta of 1.44. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.

Dycom Industries (NYSE:DY - Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.20. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. The business's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.03 earnings per share. On average, research analysts forecast that Dycom Industries, Inc. will post 7.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DY. DA Davidson reissued a "buy" rating and set a $210.00 price target on shares of Dycom Industries in a research note on Tuesday. KeyCorp increased their target price on Dycom Industries from $200.00 to $227.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. StockNews.com downgraded Dycom Industries from a "buy" rating to a "hold" rating in a research report on Friday, July 26th. Bank of America raised their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company increased their price target on Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Dycom Industries presently has an average rating of "Buy" and a consensus price target of $206.13.

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.