Sterling Capital Management LLC raised its position in Dycom Industries, Inc. (NYSE:DY) by 18.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 24,768 shares of the construction company’s stock after buying an additional 3,914 shares during the period. Sterling Capital Management LLC’s holdings in Dycom Industries were worth $2,341,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Point72 Hong Kong Ltd increased its stake in Dycom Industries by 388.9% in the second quarter. Point72 Hong Kong Ltd now owns 2,283 shares of the construction company’s stock valued at $216,000 after purchasing an additional 1,816 shares in the last quarter. Clearline Capital LP bought a new stake in Dycom Industries in the second quarter valued at approximately $785,000. Raymond James & Associates increased its position in shares of Dycom Industries by 60.8% during the second quarter. Raymond James & Associates now owns 76,394 shares of the construction company’s stock worth $7,220,000 after acquiring an additional 28,898 shares in the last quarter. BB&T Securities LLC increased its position in shares of Dycom Industries by 15.3% during the second quarter. BB&T Securities LLC now owns 18,416 shares of the construction company’s stock worth $1,740,000 after acquiring an additional 2,439 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of Dycom Industries by 18.9% during the second quarter. OppenheimerFunds Inc. now owns 444,776 shares of the construction company’s stock worth $42,036,000 after acquiring an additional 70,745 shares in the last quarter.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Dycom Industries from a “sell” rating to a “hold” rating in a research report on Monday, August 6th. Canaccord Genuity reissued a “buy” rating and set a $90.00 price objective (down previously from $120.00) on shares of Dycom Industries in a research report on Tuesday, August 14th. DA Davidson lowered their price objective on shares of Dycom Industries to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, August 14th. Deutsche Bank set a $93.00 price objective on shares of Dycom Industries and gave the stock a “buy” rating in a research report on Thursday, August 30th. Finally, KeyCorp lowered their price objective on shares of Dycom Industries from $123.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, May 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $100.50.

Shares of DY stock opened at $82.94 on Friday. The company has a quick ratio of 2.96, a current ratio of 3.24 and a debt-to-equity ratio of 0.93. Dycom Industries, Inc. has a 12-month low of $67.15 and a 12-month high of $123.99. The firm has a market cap of $2.64 billion, a PE ratio of 30.13, a P/E/G ratio of 2.44 and a beta of 1.23.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, August 29th. The construction company reported $1.05 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.05. Dycom Industries had a net margin of 3.94% and a return on equity of 12.07%. The company had revenue of $799.50 million during the quarter, compared to the consensus estimate of $799.51 million. During the same quarter in the prior year, the firm earned $1.47 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. research analysts anticipate that Dycom Industries, Inc. will post 2.82 EPS for the current fiscal year.

Dycom Industries declared that its board has authorized a share repurchase plan on Wednesday, August 29th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 6.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services in the United States and Canada. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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Institutional Ownership by Quarter for Dycom Industries (NYSE:DY)

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