Castleark Management LLC Invests $9.51 Million in Dycom Industries, Inc. $DY

Castleark Management LLC acquired a new position in Dycom Industries, Inc. (NYSE:DY) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 18,816 shares of the construction company’s stock, valued at approximately $9,513,000.

Other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp lifted its position in shares of Dycom Industries by 4,626.1% during the 1st quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock valued at $331,000 after buying an additional 2,128 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Dycom Industries by 7.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock worth $10,622,000 after purchasing an additional 4,985 shares during the period. Invesco Ltd. raised its position in shares of Dycom Industries by 7.0% during the 2nd quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock valued at $55,508,000 after purchasing an additional 14,891 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Dycom Industries by 73.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after buying an additional 68 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Dycom Industries by 8.9% in the second quarter. Cerity Partners LLC now owns 2,239 shares of the construction company’s stock valued at $547,000 after acquiring an additional 183 shares in the last quarter. Institutional investors own 98.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wedbush set a $654.00 target price on Dycom Industries in a research note on Friday, May 29th. UBS Group restated a “buy” rating on shares of Dycom Industries in a research report on Friday, July 24th. Cantor Fitzgerald boosted their price target on shares of Dycom Industries from $436.00 to $654.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Zacks Research lowered Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Weiss Ratings raised Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 13th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $578.09.

Dycom Industries Stock Performance

Shares of NYSE:DY opened at $354.42 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 2.46 and a debt-to-equity ratio of 1.48. Dycom Industries, Inc. has a 12 month low of $242.55 and a 12 month high of $566.47. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 0.67 and a beta of 1.54. The firm’s 50-day moving average is $427.20 and its 200 day moving average is $415.67.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, May 27th. The construction company reported $4.42 earnings per share for the quarter, topping the consensus estimate of $2.73 by $1.69. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the business posted $2.09 earnings per share. The company’s revenue for the quarter was up 56.1% on a year-over-year basis. Research analysts predict that Dycom Industries, Inc. will post 15.45 EPS for the current year.

About Dycom Industries

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.