Arrowpoint Investment Partners Singapore Pte. Ltd. Raises Position in Dycom Industries, Inc. (NYSE:DY)

Arrowpoint Investment Partners Singapore Pte. Ltd. lifted its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 3,536.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,000 shares of the construction company’s stock after purchasing an additional 3,890 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd.’s holdings in Dycom Industries were worth $609,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Trust Advisors LP grew its stake in Dycom Industries by 142.9% in the 4th quarter. First Trust Advisors LP now owns 496,407 shares of the construction company’s stock valued at $86,405,000 after buying an additional 292,050 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Dycom Industries by 851.6% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company’s stock worth $72,459,000 after acquiring an additional 425,652 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Dycom Industries during the fourth quarter worth $80,584,000. Assenagon Asset Management S.A. lifted its position in shares of Dycom Industries by 327.1% during the first quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company’s stock worth $60,818,000 after acquiring an additional 305,755 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Dycom Industries by 8.7% during the fourth quarter. Northern Trust Corp now owns 320,481 shares of the construction company’s stock worth $55,783,000 after acquiring an additional 25,571 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on DY. Wells Fargo & Company increased their target price on Dycom Industries from $215.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Wall Street Zen downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research report on Saturday. DA Davidson increased their target price on Dycom Industries from $220.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. increased their target price on Dycom Industries from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, May 22nd. Finally, UBS Group boosted their price target on shares of Dycom Industries from $258.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $259.00.

Dycom Industries Stock Down 1.3%

DY opened at $275.41 on Tuesday. The company has a fifty day moving average price of $250.35 and a 200-day moving average price of $200.27. The firm has a market capitalization of $7.96 billion, a P/E ratio of 34.91, a price-to-earnings-growth ratio of 1.59 and a beta of 1.34. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.89 and a quick ratio of 2.68. Dycom Industries, Inc. has a one year low of $131.37 and a one year high of $279.41.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.47. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.19 billion. Dycom Industries had a net margin of 4.81% and a return on equity of 20.04%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.12 EPS. Equities research analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

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.