First Mercantile Trust Co. raised its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 84.4% during the second quarter, Holdings Channel reports. The firm owned 5,601 shares of the construction company’s stock after buying an additional 2,563 shares during the period. First Mercantile Trust Co.’s holdings in Dycom Industries were worth $501,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Dycom Industries during the fourth quarter valued at about $12,808,000. Teachers Advisors LLC raised its stake in Dycom Industries by 32.9% in the fourth quarter. Teachers Advisors LLC now owns 73,797 shares of the construction company’s stock valued at $5,925,000 after buying an additional 18,272 shares in the last quarter. Capstone Asset Management Co. purchased a new stake in Dycom Industries during the first quarter valued at about $219,000. Atria Investments LLC purchased a new stake in Dycom Industries during the first quarter valued at about $226,000. Finally, Louisiana State Employees Retirement System raised its stake in Dycom Industries by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the construction company’s stock valued at $734,000 after buying an additional 100 shares in the last quarter.

Dycom Industries, Inc. (NYSE:DY) opened at 81.56 on Wednesday. The stock’s 50 day moving average price is $88.49 and its 200-day moving average price is $91.86. Dycom Industries, Inc. has a one year low of $70.33 and a one year high of $110.64. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 16.04 and a beta of 1.18.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, May 24th. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.11. Dycom Industries had a return on equity of 28.96% and a net margin of 5.30%. The firm had revenue of $786.30 million during the quarter, compared to the consensus estimate of $736.20 million. During the same quarter in the previous year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities research analysts anticipate that Dycom Industries, Inc. will post $5.23 earnings per share for the current fiscal year.

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Several research firms recently issued reports on DY. ValuEngine lowered Dycom Industries from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st. Zacks Investment Research raised Dycom Industries from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Tuesday, May 16th. DA Davidson reaffirmed a “neutral” rating and issued a $97.00 target price (down from $105.00) on shares of Dycom Industries in a research report on Sunday, May 28th. FBR & Co reaffirmed an “outperform” rating and issued a $112.00 target price (down from $120.00) on shares of Dycom Industries in a research report on Thursday, May 25th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $52.00 target price on shares of Dycom Industries in a research report on Thursday, May 25th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Dycom Industries currently has an average rating of “Buy” and a consensus target price of $102.09.

Dycom Industries Company Profile

Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.

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

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