Thompson Davis & CO. Inc. Acquires 240 Shares of Dycom Industries, Inc. (NYSE:DY)

Thompson Davis & CO. Inc. raised its stake in Dycom Industries, Inc. (NYSE:DY) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,505 shares of the construction company’s stock after acquiring an additional 240 shares during the quarter. Dycom Industries makes up approximately 1.1% of Thompson Davis & CO. Inc.’s investment portfolio, making the stock its 9th largest position. Thompson Davis & CO. Inc.’s holdings in Dycom Industries were worth $1,479,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DY. Accent Capital Management LLC acquired a new stake in shares of Dycom Industries during the 3rd quarter valued at $25,000. Annapolis Financial Services LLC acquired a new stake in Dycom Industries in the third quarter valued at $29,000. Allspring Global Investments Holdings LLC bought a new position in Dycom Industries during the 1st quarter worth $28,000. Anchor Investment Management LLC lifted its holdings in Dycom Industries by 50.4% during the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock worth $33,000 after buying an additional 65 shares during the period. Finally, GAMMA Investing LLC grew its position 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 valued at $49,000 after buying an additional 152 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DY has been the topic of a number of analyst reports. StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their target price on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. DA Davidson reiterated a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a report on Tuesday. 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, KeyCorp raised 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 research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Dycom Industries has an average rating of “Buy” and an average price target of $206.13.

Dycom Industries Stock Performance

DY stock opened at $202.74 on Wednesday. The business has a 50 day moving average of $189.57 and a 200-day moving average of $178.82. The firm has a market cap of $5.90 billion, a PE ratio of 25.18, a P/E/G ratio of 1.55 and a beta of 1.44. Dycom Industries, Inc. has a 12-month low of $84.83 and a 12-month high of $207.20. 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 (NYSE:DY) last announced its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. Dycom Industries’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.03 EPS. As a group, sell-side analysts expect that Dycom Industries, Inc. will post 7.96 earnings per share 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.