OVERSEA CHINESE BANKING Corp Ltd Makes New $5.42 Million Investment in Dycom Industries, Inc. (NYSE:DY)

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 27,535 shares of the construction company's stock, valued at approximately $5,417,000. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.09% of Dycom Industries as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of DY. Allspring Global Investments Holdings LLC bought a new stake in shares of Dycom Industries in the first quarter valued at about $28,000. Annapolis Financial Services LLC acquired a new stake in shares of Dycom Industries in the third quarter valued at approximately $29,000. Anchor Investment Management LLC raised its position in shares of Dycom Industries by 50.4% in the second quarter. Anchor Investment Management LLC now owns 194 shares of the construction company's stock valued at $33,000 after buying an additional 65 shares in the last quarter. GAMMA Investing LLC grew its position in Dycom Industries by 107.8% during the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company's stock worth $49,000 after buying 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 worth $61,000 after acquiring an additional 355 shares during the period. Institutional investors own 98.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DY. Wells Fargo & Company raised their price target on Dycom Industries from $185.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 17th. KeyCorp boosted their target price on shares of Dycom Industries from $200.00 to $227.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Bank of America increased their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. B. Riley upped their target price on Dycom Industries from $205.00 to $208.00 and gave the stock a "buy" rating in a research note on Thursday, August 22nd. Finally, StockNews.com lowered Dycom Industries from a "buy" rating to a "hold" rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $203.43.

Dycom Industries Trading Down 2.2 %

Shares of DY stock traded down $4.25 during trading hours on Tuesday, hitting $189.06. 175,345 shares of the company's stock traded hands, compared to its average volume of 287,236. 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 $82.71 and a 12 month high of $207.20. The stock has a market cap of $5.50 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.56 and a beta of 1.44. The stock's 50 day simple moving average is $187.51 and its 200 day simple moving average is $176.73.

Dycom Industries (NYSE:DY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the firm posted $2.03 earnings per share. The business's quarterly revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts anticipate that Dycom Industries, Inc. will post 8.02 EPS for the current year.

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.