Oppenheimer Asset Management Inc. Lowers Holdings in Dycom Industries, Inc. (NYSE:DY)

Oppenheimer Asset Management Inc. reduced its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 25.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,866 shares of the construction company's stock after selling 2,961 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Dycom Industries were worth $1,747,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Dycom Industries by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company's stock worth $458,728,000 after acquiring an additional 12,395 shares during the period. Millennium Management LLC raised its position in shares of Dycom Industries by 6.3% in the 2nd quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company's stock worth $275,324,000 after purchasing an additional 96,846 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Dycom Industries by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company's stock worth $131,278,000 after purchasing an additional 27,370 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Dycom Industries by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 230,216 shares of the construction company's stock worth $38,851,000 after buying an additional 971 shares in the last quarter. Finally, Appian Way Asset Management LP increased its holdings in Dycom Industries by 84.2% in the 1st quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company's stock worth $28,328,000 after buying an additional 90,198 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Stock Performance

Shares of DY stock traded up $9.41 during trading hours on Monday, reaching $196.93. 324,059 shares of the company traded hands, compared to its average volume of 291,034. Dycom Industries, Inc. has a 12-month low of $84.83 and a 12-month high of $207.20. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25. The company has a market cap of $5.73 billion, a P/E ratio of 23.29, a P/E/G ratio of 1.55 and a beta of 1.44. The firm has a 50-day moving average price of $188.73 and a 200 day moving average price of $178.01.

Dycom Industries (NYSE:DY - Get Free Report) last posted 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. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the firm earned $2.03 EPS. The business's quarterly revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts predict that Dycom Industries, Inc. will post 7.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DY has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday. B. Riley lifted 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. KeyCorp boosted their price target on Dycom Industries from $200.00 to $227.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. 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 research note on Friday, August 23rd. Finally, StockNews.com downgraded Dycom Industries from a "buy" rating to a "hold" rating in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Dycom Industries has an average rating of "Buy" and an average price target of $205.57.

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.