Geode Capital Management LLC Acquires 9,113 Shares of Dycom Industries, Inc. (NYSE:DY)

Geode Capital Management LLC grew its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 650,883 shares of the construction company's stock after buying an additional 9,113 shares during the period. Geode Capital Management LLC owned 2.24% of Dycom Industries worth $128,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Accent Capital Management LLC bought a new position in Dycom Industries in the 3rd quarter worth about $25,000. Annapolis Financial Services LLC purchased a new stake in shares of Dycom Industries during the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new stake in Dycom Industries during the third quarter valued at about $28,000. Anchor Investment Management LLC lifted its stake in Dycom Industries by 50.4% during the second quarter. Anchor Investment Management LLC now owns 194 shares of the construction company's stock worth $33,000 after purchasing an additional 65 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Dycom Industries by 25.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company's stock worth $57,000 after purchasing an additional 59 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DY has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. B. Riley lifted their target price on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a "buy" rating in a research note on Thursday, August 22nd. Bank of America raised their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. KeyCorp upped their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Finally, DA Davidson restated a "buy" rating and set a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th. 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. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $206.13.

Dycom Industries Price Performance

Shares of DY opened at $177.05 on Wednesday. Dycom Industries, Inc. has a fifty-two week low of $107.53 and a fifty-two week high of $207.20. The firm's 50-day simple moving average is $186.53 and its two-hundred day simple moving average is $181.93. The stock has a market cap of $5.17 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.45 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12.

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.