Sheets Smith Wealth Management Acquires New Position in Dycom Industries, Inc. (NYSE:DY)


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Sheets Smith Wealth Management bought a new position in Dycom Industries, Inc. (NYSE:DY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,894 shares of the construction company’s stock, valued at approximately $596,000.

A number of other hedge funds have also bought and sold shares of the business. Scout Investments Inc. raised its position in shares of Dycom Industries by 3.0% in the 4th quarter. Scout Investments Inc. now owns 110,413 shares of the construction company’s stock valued at $8,338,000 after acquiring an additional 3,200 shares during the period. Sei Investments Co. raised its holdings in Dycom Industries by 8.3% during the 3rd quarter. Sei Investments Co. now owns 222,064 shares of the construction company’s stock worth $11,729,000 after buying an additional 16,942 shares during the period. Scopus Asset Management L.P. acquired a new stake in Dycom Industries during the 3rd quarter worth approximately $519,000. Voloridge Investment Management LLC raised its holdings in Dycom Industries by 77.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 77,862 shares of the construction company’s stock worth $4,113,000 after buying an additional 33,911 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its holdings in Dycom Industries by 100.4% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 162,100 shares of the construction company’s stock worth $8,563,000 after buying an additional 81,200 shares during the period. 85.17% of the stock is owned by institutional investors.

In other Dycom Industries news, COO Timothy R. Estes sold 45,363 shares of Dycom Industries stock in a transaction on Monday, December 14th. The shares were sold at an average price of $77.65, for a total transaction of $3,522,436.95. Following the completion of the transaction, the chief operating officer now directly owns 306,010 shares of the company’s stock, valued at $23,761,676.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.66% of the company’s stock.

NYSE:DY opened at $86.33 on Thursday. Dycom Industries, Inc. has a 1-year low of $12.24 and a 1-year high of $89.14. The company has a current ratio of 2.73, a quick ratio of 2.58 and a debt-to-equity ratio of 0.54. The firm has a fifty day simple moving average of $73.65 and a 200 day simple moving average of $59.78. The stock has a market capitalization of $2.76 billion, a PE ratio of 105.28 and a beta of 1.63.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Monday, November 23rd. The construction company reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.01. Dycom Industries had a net margin of 0.86% and a return on equity of 8.77%. The firm had revenue of $810.26 million during the quarter, compared to analysts’ expectations of $821.88 million. On average, equities analysts predict that Dycom Industries, Inc. will post 2.66 earnings per share for the current fiscal year.

Several analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Dycom Industries from $60.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, November 20th. B. Riley raised their price target on shares of Dycom Industries from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, January 7th. They noted that the move was a valuation call. DA Davidson raised their price target on shares of Dycom Industries from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, November 25th. BidaskClub cut shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 22nd. Finally, Stifel Nicolaus raised shares of Dycom Industries to a “buy” rating and raised their price target for the stock from $69.00 to $90.00 in a research note on Monday, November 23rd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Dycom Industries currently has a consensus rating of “Buy” and a consensus target price of $72.63.

Dycom Industries Profile

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

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