Tocqueville Asset Management L.P. cut its position in shares of Dycom Industries Inc. (NYSE:DY) by 3.6% during the second quarter, Holdings Channel reports. The institutional investor owned 136,250 shares of the company’s stock after selling 5,087 shares during the period. Tocqueville Asset Management L.P.’s holdings in Dycom Industries were worth $12,230,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Architects Inc raised its stake in shares of Dycom Industries by 1,266.3% in the second quarter. Financial Architects Inc now owns 1,339 shares of the company’s stock valued at $120,000 after buying an additional 1,241 shares during the last quarter. Foundry Partners LLC purchased a new stake in shares of Dycom Industries during the second quarter valued at about $247,000. Concorde Asset Management LLC purchased a new stake in shares of Dycom Industries during the second quarter valued at about $256,000. Rehmann Capital Advisory Group purchased a new stake in shares of Dycom Industries during the second quarter valued at about $269,000. Finally, M&T Bank Corp raised its stake in shares of Dycom Industries by 1.0% in the first quarter. M&T Bank Corp now owns 4,351 shares of the company’s stock valued at $281,000 after buying an additional 41 shares during the last quarter.
Dycom Industries Inc. (NYSE:DY) traded down 2.09% during trading on Friday, reaching $83.38. The company had a trading volume of 304,600 shares. Dycom Industries Inc. has a one year low of $47.10 and a one year high of $98.45. The firm’s 50-day moving average price is $82.92 and its 200 day moving average price is $81.52. The firm has a market capitalization of $2.62 billion, a P/E ratio of 21.43 and a beta of 1.47.
Dycom Industries (NYSE:DY) last issued its earnings results on Tuesday, August 23rd. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.55 by $0.09. Dycom Industries had a return on equity of 27.39% and a net margin of 4.82%. The business had revenue of $789.16 million for the quarter, compared to the consensus estimate of $770.66 million. During the same period last year, the business posted $0.97 EPS. The company’s revenue was up 36.4% compared to the same quarter last year. Equities analysts forecast that Dycom Industries Inc. will post $5.37 earnings per share for the current fiscal year.
DY has been the topic of several research reports. Vetr upgraded Dycom Industries from a “hold” rating to a “buy” rating and set a $90.92 target price on the stock in a research note on Monday, August 15th. FBR & Co boosted their target price on Dycom Industries from $115.00 to $121.00 and gave the company an “outperform” rating in a research note on Thursday, August 25th. Zacks Investment Research lowered Dycom Industries from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. Wells Fargo & Co. restated a “buy” rating on shares of Dycom Industries in a research note on Wednesday, September 28th. Finally, DA Davidson set a $110.00 target price on Dycom Industries and gave the company a “buy” rating in a research note on Monday, August 22nd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Dycom Industries currently has an average rating of “Buy” and a consensus price target of $98.57.
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 engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including telecommunications providers, and other construction and maintenance services to electric and gas utilities.