Oppenheimer & Co. Inc. Buys 1,069 Shares of Dycom Industries, Inc. (NYSE:DY)

Oppenheimer & Co. Inc. raised its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 17.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 7,270 shares of the construction company’s stock after acquiring an additional 1,069 shares during the period. Oppenheimer & Co. Inc.’s holdings in Dycom Industries were worth $1,433,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Annapolis Financial Services LLC purchased a new position in shares of Dycom Industries in the 3rd quarter worth approximately $29,000. Allspring Global Investments Holdings LLC purchased a new position in Dycom Industries in the first quarter worth $28,000. Anchor Investment Management LLC grew its stake in Dycom Industries by 50.4% in the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after purchasing an additional 65 shares during the period. GAMMA Investing LLC increased its position in shares of Dycom Industries by 107.8% during the 2nd quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock valued at $49,000 after purchasing an additional 152 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Dycom Industries by 196.7% during the 2nd quarter. Signaturefd LLC now owns 359 shares of the construction company’s stock worth $61,000 after purchasing an additional 238 shares during the period. 98.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. B. Riley increased their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company increased their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday. Bank of America lifted their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. KeyCorp increased their price objective on Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, StockNews.com lowered Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $205.57.

Dycom Industries Trading Up 1.5 %

NYSE:DY opened at $187.52 on Monday. Dycom Industries, Inc. has a 1 year low of $84.83 and a 1 year high of $207.20. The stock’s fifty day moving average price is $188.73 and its two-hundred day moving average price is $178.01. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25. The company has a market cap of $5.46 billion, a P/E ratio of 23.29, a P/E/G ratio of 1.55 and a beta of 1.44.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company posted $2.03 EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, analysts expect that Dycom Industries, Inc. will post 7.96 EPS for the current 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.