Verition Fund Management LLC Decreases Holdings in Dycom Industries, Inc. (NYSE:DY)

Verition Fund Management LLC lessened its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 37.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,149 shares of the construction company's stock after selling 4,344 shares during the quarter. Verition Fund Management LLC's holdings in Dycom Industries were worth $1,409,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in Dycom Industries by 2,353.9% during the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company's stock worth $26,831,000 after purchasing an additional 152,509 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Dycom Industries by 2,543.6% during the 2nd quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company's stock worth $17,399,000 after buying an additional 99,200 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Dycom Industries during the 3rd quarter valued at approximately $19,424,000. Millennium Management LLC lifted its holdings in Dycom Industries by 6.3% in the second 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 during the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in Dycom Industries in the third quarter worth approximately $13,144,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Stock Down 0.8 %

Shares of NYSE DY traded down $1.59 during midday trading on Friday, hitting $192.61. The company's stock had a trading volume of 328,723 shares, compared to its average volume of 531,262. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 1.58 and a beta of 1.41. The business's fifty day simple moving average is $187.87 and its two-hundred day simple moving average is $181.80. Dycom Industries, Inc. has a 1 year low of $105.67 and a 1 year high of $207.20.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DY. Bank of America lifted 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 boosted their price objective on shares of Dycom Industries from $205.00 to $208.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. DA Davidson reaffirmed a "buy" rating and issued a $210.00 target price on shares of Dycom Industries in a research report on Tuesday, November 19th. KeyCorp lifted their price target 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. Finally, Wells Fargo & Company upped their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. One 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. According to data from MarketBeat, Dycom Industries currently has an average rating of "Buy" and an average price target of $206.13.

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.