Trellus Management Company LLC Takes Position in Dycom Industries, Inc. (DY)
Trellus Management Company LLC acquired a new stake in Dycom Industries, Inc. (NYSE:DY) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 20,000 shares of the construction company’s stock, valued at approximately $919,000. Dycom Industries accounts for 1.8% of Trellus Management Company LLC’s holdings, making the stock its 19th biggest holding. Trellus Management Company LLC owned 0.06% of Dycom Industries at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. First Personal Financial Services bought a new stake in shares of Dycom Industries during the 4th quarter worth $41,000. NumerixS Investment Technologies Inc bought a new stake in shares of Dycom Industries during the 4th quarter worth $77,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Dycom Industries by 24.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,476 shares of the construction company’s stock worth $80,000 after buying an additional 288 shares during the period. Bank of Montreal Can boosted its holdings in shares of Dycom Industries by 17.1% during the 4th quarter. Bank of Montreal Can now owns 1,686 shares of the construction company’s stock worth $91,000 after buying an additional 246 shares during the period. Finally, Belpointe Asset Management LLC bought a new stake in shares of Dycom Industries during the 3rd quarter worth $104,000. Hedge funds and other institutional investors own 94.78% of the company’s stock.
A number of brokerages have weighed in on DY. Zacks Investment Research downgraded shares of Dycom Industries from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. ValuEngine downgraded shares of Dycom Industries from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Craig Hallum reduced their price target on shares of Dycom Industries from $75.00 to $51.00 and set a “buy” rating for the company in a report on Thursday, February 28th. Stephens reduced their price target on shares of Dycom Industries from $130.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, March 4th. Finally, DA Davidson reduced their price target on shares of Dycom Industries from $77.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $76.80.
Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, February 27th. The construction company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). Dycom Industries had a net margin of 2.01% and a return on equity of 11.24%. The business had revenue of $748.62 million during the quarter, compared to analyst estimates of $719.25 million. During the same quarter in the prior year, the company posted $0.12 EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. Analysts expect that Dycom Industries, Inc. will post 2.55 earnings per share for the current fiscal year.
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About Dycom Industries
Dycom Industries, Inc provides specialty contracting services in the United States. 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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