Montag A & Associates Inc. Takes $3.58 Million Position in Dycom Industries, Inc. (NYSE:DY)

Montag A & Associates Inc. acquired a new stake in Dycom Industries, Inc. (NYSE:DY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,211 shares of the construction company’s stock, valued at approximately $3,580,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. US Bancorp DE raised its stake in Dycom Industries by 109.3% during the 4th quarter. US Bancorp DE now owns 14,623 shares of the construction company’s stock worth $1,683,000 after acquiring an additional 7,638 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Dycom Industries by 33.1% during the 1st quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company’s stock worth $4,630,000 after acquiring an additional 8,028 shares in the last quarter. Sheets Smith Wealth Management raised its stake in Dycom Industries by 100.0% during the 1st quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock worth $1,009,000 after acquiring an additional 3,514 shares in the last quarter. Vanguard Group Inc. raised its stake in Dycom Industries by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock worth $366,406,000 after acquiring an additional 42,121 shares in the last quarter. Finally, Peconic Partners LLC raised its stake in Dycom Industries by 0.7% during the 4th quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock worth $375,847,000 after acquiring an additional 21,635 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Price Performance

DY traded up $4.91 during midday trading on Friday, reaching $175.96. 275,577 shares of the company’s stock were exchanged, compared to its average volume of 384,550. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25. The stock has a market capitalization of $5.12 billion, a PE ratio of 22.68, a P/E/G ratio of 1.88 and a beta of 1.45. The business’s 50-day moving average price is $176.79 and its 200 day moving average price is $157.60. Dycom Industries, Inc. has a 1-year low of $78.42 and a 1-year high of $196.34.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.20. The company had revenue of $1.20 billion during 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%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.03 earnings per share. As a group, equities analysts anticipate that Dycom Industries, Inc. will post 7.97 EPS for the current fiscal year.

Analysts Set New Price Targets

DY has been the topic of several research analyst reports. Bank of America lifted their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Wells Fargo & Company raised their price objective on shares of Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Craig Hallum raised their price objective on shares of Dycom Industries from $145.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. B. Riley raised their price objective on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $199.57.

Insiders Place Their Bets

In other news, VP Jason T. Lawson sold 856 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $174.48, for a total value of $149,354.88. Following the completion of the transaction, the vice president now owns 6,937 shares of the company’s stock, valued at $1,210,367.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.28% of the stock is currently owned by company insiders.

Dycom Industries 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.