Point72 Asset Management L.P. Purchases Shares of 62,015 Dycom Industries, Inc. (NYSE:DY)

Point72 Asset Management L.P. bought a new stake in Dycom Industries, Inc. (NYSE:DY - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 62,015 shares of the construction company's stock, valued at approximately $12,223,000. Point72 Asset Management L.P. owned 0.21% of Dycom Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of Dycom Industries by 2,353.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company's stock worth $26,831,000 after buying an additional 152,509 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Dycom Industries by 2,543.6% during the 2nd quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company's stock valued at $17,399,000 after purchasing an additional 99,200 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Dycom Industries in the third quarter valued at about $19,424,000. Millennium Management LLC increased its position in Dycom Industries by 6.3% in the 2nd quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company's stock valued at $275,324,000 after acquiring an additional 96,846 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in shares of Dycom Industries during the third quarter worth approximately $13,144,000. 98.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DY shares. KeyCorp lifted their price target on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. DA Davidson restated a "buy" rating and issued a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th. B. Riley boosted their price objective on Dycom Industries from $205.00 to $208.00 and gave the company a "buy" rating in a research report on Thursday, August 22nd. Wells Fargo & Company boosted their price target on Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Finally, Bank of America increased their price objective on Dycom Industries from $198.00 to $204.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $206.13.

Dycom Industries Stock Performance

Shares of DY stock traded down $1.59 on Friday, hitting $192.61. 328,723 shares of the stock were exchanged, compared to its average volume of 531,262. The firm's 50 day moving average is $187.87 and its two-hundred day moving average is $181.90. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $5.62 billion, a PE ratio of 25.34, a P/E/G ratio of 1.58 and a beta of 1.41. Dycom Industries, Inc. has a one year low of $105.67 and a one year high of $207.20.

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.