Asset Management One Co. Ltd. Buys New Position in Dycom Industries, Inc. (NYSE:DY)

Asset Management One Co. Ltd. acquired a new stake in Dycom Industries, Inc. (NYSE:DY - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,330 shares of the construction company's stock, valued at approximately $3,219,000. Asset Management One Co. Ltd. owned about 0.06% of Dycom Industries at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of DY. Mariner Investment Group LLC acquired a new stake in shares of Dycom Industries during the third quarter worth approximately $507,000. Pinnacle Associates Ltd. boosted its stake in Dycom Industries by 2.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 65,464 shares of the construction company's stock valued at $12,903,000 after acquiring an additional 1,617 shares during the last quarter. First Trust Direct Indexing L.P. bought a new position in Dycom Industries during the 3rd quarter valued at $214,000. HWG Holdings LP acquired a new position in Dycom Industries during the 3rd quarter worth $3,198,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Dycom Industries in the 3rd quarter worth about $19,424,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Stock Performance

DY traded up $11.84 during trading on Friday, reaching $189.63. 900,248 shares of the company were exchanged, compared to its average volume of 334,017. Dycom Industries, Inc. has a 52 week low of $80.99 and a 52 week high of $207.20. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average of $187.16 and a 200 day moving average of $176.36. The stock has a market cap of $5.52 billion, a P/E ratio of 23.56, a PEG ratio of 1.48 and a beta of 1.44.

Dycom Industries (NYSE:DY - Get Free Report) last released its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.20. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The company's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.03 EPS. On average, sell-side analysts forecast that Dycom Industries, Inc. will post 8.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DY has been the topic of several research analyst reports. B. Riley increased their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, August 22nd. Wells Fargo & Company lifted their target price on Dycom Industries from $185.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 17th. Bank of America boosted their price target on Dycom Industries from $198.00 to $204.00 and gave the company a "buy" rating in a report on Friday, August 23rd. KeyCorp raised their price objective on Dycom Industries from $200.00 to $227.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Finally, StockNews.com lowered shares of Dycom Industries from a "buy" rating to a "hold" rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $203.43.

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.