Impax Asset Management Group plc Lowers Holdings in Dycom Industries, Inc. (NYSE:DY)

Impax Asset Management Group plc cut its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 36.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,500 shares of the construction company's stock after selling 12,500 shares during the quarter. Impax Asset Management Group plc owned approximately 0.07% of Dycom Industries worth $4,238,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Dycom Industries by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company's stock valued at $458,728,000 after purchasing an additional 12,395 shares in the last quarter. Millennium Management LLC grew its position in shares of Dycom Industries by 6.3% during the second quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company's stock valued at $275,324,000 after purchasing an additional 96,846 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Dycom Industries by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 230,216 shares of the construction company's stock valued at $38,851,000 after purchasing an additional 971 shares in the last quarter. Appian Way Asset Management LP grew its position in Dycom Industries by 84.2% in the first quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company's stock worth $28,328,000 after acquiring an additional 90,198 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Dycom Industries by 2,353.9% in the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company's stock worth $26,831,000 after acquiring an additional 152,509 shares in the last quarter. 98.33% of the stock is owned by institutional investors.

Dycom Industries Stock Performance

Shares of DY traded down $5.04 during trading hours on Wednesday, reaching $179.27. 1,124,713 shares of the company traded hands, compared to its average volume of 282,130. The stock has a market capitalization of $5.22 billion, a P/E ratio of 22.91, a P/E/G ratio of 1.44 and a beta of 1.44. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81. Dycom Industries, Inc. has a 12-month low of $80.65 and a 12-month high of $207.20. The business has a fifty day moving average price of $186.56 and a 200-day moving average price of $175.45.

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. KeyCorp lifted their price target on Dycom Industries from $200.00 to $227.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Bank of America boosted their target price on Dycom Industries from $198.00 to $204.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. B. Riley lifted their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the company a "buy" rating in a research note on Thursday, August 22nd. Wells Fargo & Company boosted their price objective on shares of Dycom Industries from $185.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 17th. Finally, StockNews.com downgraded shares of Dycom Industries from a "buy" rating to a "hold" rating in a research note on Friday, July 26th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $203.43.

Dycom Industries Company 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.