First Horizon Advisors Inc. Acquires 59 Shares of Dycom Industries, Inc. (NYSE:DY)

First Horizon Advisors Inc. increased its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 25.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 291 shares of the construction company’s stock after purchasing an additional 59 shares during the period. First Horizon Advisors Inc.’s holdings in Dycom Industries were worth $57,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DY. Vanguard Group Inc. raised its holdings in Dycom Industries by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock worth $458,728,000 after purchasing an additional 12,395 shares during the period. Millennium Management LLC lifted its holdings 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 worth $275,324,000 after acquiring an additional 96,846 shares in the last quarter. Principal Financial Group Inc. grew its stake in Dycom Industries by 4.3% in the third quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock valued at $131,278,000 after acquiring an additional 27,370 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Dycom Industries by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 230,216 shares of the construction company’s stock worth $38,851,000 after acquiring an additional 971 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Dycom Industries by 2,353.9% during the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock worth $26,831,000 after purchasing an additional 152,509 shares during the period. Institutional investors own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America boosted their price objective on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. KeyCorp increased their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. DA Davidson reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Dycom Industries in a research report on Tuesday, November 19th. B. Riley upped their target price on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company boosted their price target on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One equities 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.com, Dycom Industries currently has a consensus rating of “Buy” and an average target price of $206.13.

Dycom Industries Stock Performance

DY opened at $180.30 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.25 and a current ratio of 3.12. The business’s 50-day simple moving average is $189.27 and its 200 day simple moving average is $179.51. The firm has a market capitalization of $5.25 billion, a PE ratio of 23.72, a PEG ratio of 1.52 and a beta of 1.44. Dycom Industries, Inc. has a 52-week low of $99.54 and a 52-week high of $207.20.

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.