Anchor Investment Management LLC Increases Holdings in Dycom Industries, Inc. (NYSE:DY)

Anchor Investment Management LLC increased its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 37.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 267 shares of the construction company’s stock after purchasing an additional 73 shares during the quarter. Anchor Investment Management LLC’s holdings in Dycom Industries were worth $53,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DY. Renaissance Technologies LLC lifted its stake in Dycom Industries by 2,543.6% in the 2nd quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company’s stock worth $17,399,000 after purchasing an additional 99,200 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Dycom Industries in the third quarter worth about $19,424,000. Millennium Management LLC boosted its stake in Dycom Industries by 6.3% during the second quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock valued at $275,324,000 after buying an additional 96,846 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in Dycom Industries during the 3rd quarter valued at approximately $13,144,000. Finally, Point72 Asset Management L.P. bought a new stake in Dycom Industries in the 3rd quarter worth approximately $12,223,000. Institutional investors own 98.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on DY shares. KeyCorp increased their target price on Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company lifted their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. DA Davidson restated a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a research report on Tuesday, November 19th. Bank of America increased their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, B. Riley boosted their price objective on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Dycom Industries currently has an average rating of “Buy” and an average price target of $206.13.

Dycom Industries Stock Performance

Shares of NYSE:DY opened at $179.48 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a 12 month low of $107.53 and a 12 month high of $207.20. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.45 and a beta of 1.41. The firm’s 50-day moving average is $186.75 and its 200 day moving average is $181.95.

Dycom Industries Company 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.