Assenagon Asset Management S.A. Sells 57,324 Shares of Dycom Industries, Inc. (NYSE:DY)

Assenagon Asset Management S.A. reduced its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 36.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,664 shares of the construction company's stock after selling 57,324 shares during the period. Assenagon Asset Management S.A. owned 0.35% of Dycom Industries worth $20,038,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in Dycom Industries during the first quarter worth $28,000. Annapolis Financial Services LLC bought a new stake in shares of Dycom Industries during the third quarter valued at approximately $29,000. Anchor Investment Management LLC raised its position in shares of 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 period. GAMMA Investing LLC lifted its holdings in shares of Dycom Industries by 107.8% in the 2nd quarter. GAMMA Investing LLC now owns 293 shares of the construction company's stock worth $49,000 after purchasing an additional 152 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its stake in Dycom Industries by 5,071.4% during the 2nd quarter. SJS Investment Consulting Inc. now owns 362 shares of the construction company's stock valued at $61,000 after purchasing an additional 355 shares in the last quarter. 98.33% of the stock is owned by institutional investors.

Dycom Industries Stock Performance

DY traded down $3.23 during trading on Friday, hitting $192.06. 200,690 shares of the company traded hands, compared to its average volume of 273,820. Dycom Industries, Inc. has a one year low of $78.42 and a one year high of $207.20. The stock's fifty day moving average is $186.98 and its 200 day moving average is $173.10. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81. The firm has a market cap of $5.59 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 1.57 and a beta of 1.41.

Dycom Industries (NYSE:DY - Get Free Report) last released its earnings results 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 during the quarter, compared to the consensus estimate 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 was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.03 EPS. As a group, equities analysts predict that Dycom Industries, Inc. will post 8.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DY. B. Riley lifted their price target on 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 upped their price target on Dycom Industries from $185.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, July 17th. Bank of America lifted their price objective 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. StockNews.com downgraded shares of Dycom Industries from a "buy" rating to a "hold" rating in a report on Friday, July 26th. Finally, KeyCorp boosted their price target on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus 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.