Victory Capital Management Inc. Purchases 5,303 Shares of Dycom Industries, Inc. (NYSE:DY)

Victory Capital Management Inc. grew its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 61.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,906 shares of the construction company's stock after acquiring an additional 5,303 shares during the quarter. Victory Capital Management Inc.'s holdings in Dycom Industries were worth $2,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in Dycom Industries by 2,353.9% during the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company's stock worth $26,831,000 after buying an additional 152,509 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Dycom Industries by 2,543.6% in the second quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company's stock valued at $17,399,000 after purchasing an additional 99,200 shares during the last quarter. International Assets Investment Management LLC bought a new position in Dycom Industries during the third quarter valued at $19,424,000. Millennium Management LLC increased its position in Dycom Industries by 6.3% in the second quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company's stock worth $275,324,000 after buying an additional 96,846 shares during the last quarter. Finally, Interval Partners LP purchased a new stake in Dycom Industries in the first quarter worth $5,247,000. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Trading Down 1.6 %

Shares of NYSE:DY traded down $2.94 during trading on Friday, reaching $180.30. 550,157 shares of the company traded hands, compared to its average volume of 585,850. The company has a current ratio of 3.12, a quick ratio of 3.25 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a 52-week low of $99.54 and a 52-week high of $207.20. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 1.52 and a beta of 1.44. The business's fifty day moving average is $189.27 and its 200-day moving average is $179.51.

Dycom Industries (NYSE:DY - Get Free Report) last posted its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. Dycom Industries's quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm earned $2.03 earnings per share. As a group, analysts forecast that Dycom Industries, Inc. will post 7.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DY shares. B. Riley increased their price objective on Dycom Industries from $205.00 to $208.00 and gave the stock a "buy" rating in a report on Thursday, August 22nd. Bank of America raised their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. KeyCorp raised their price target on shares of Dycom Industries from $200.00 to $227.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average 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.