Northern Trust Corp increased its stake in Dycom Industries, Inc. (NYSE:DY) by 19.8% during the third quarter, Holdings Channel reports. The firm owned 539,467 shares of the company’s stock after buying an additional 89,279 shares during the period. Northern Trust Corp owned 1.72% of Dycom Industries worth $44,118,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Rice Hall James & Associates LLC bought a new stake in shares of Dycom Industries during the second quarter valued at about $11,078,000. Redwood Investments LLC increased its stake in shares of Dycom Industries by 27.2% in the second quarter. Redwood Investments LLC now owns 88,375 shares of the company’s stock valued at $7,933,000 after buying an additional 18,899 shares during the period. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Dycom Industries during the second quarter valued at about $15,881,000. Emerald Advisers Inc. PA bought a new stake in shares of Dycom Industries during the second quarter valued at about $18,414,000. Finally, ClariVest Asset Management LLC increased its stake in shares of Dycom Industries by 15.9% in the second quarter. ClariVest Asset Management LLC now owns 10,186 shares of the company’s stock valued at $914,000 after buying an additional 1,400 shares during the last quarter.
Dycom Industries, Inc. (NYSE:DY) traded up 0.49% during mid-day trading on Friday, hitting $80.58. The stock had a trading volume of 321,392 shares. The stock has a 50 day moving average of $79.92 and a 200-day moving average of $83.65. The firm has a market cap of $2.54 billion, a P/E ratio of 17.66 and a beta of 1.28. Dycom Industries, Inc. has a 1-year low of $47.10 and a 1-year high of $98.45.
Dycom Industries (NYSE:DY) last released its quarterly earnings data on Monday, November 21st. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.02. Dycom Industries had a return on equity of 28.63% and a net margin of 5.30%. The company had revenue of $799.20 million for the quarter, compared to analyst estimates of $801.34 million. During the same period in the prior year, the company posted $1.24 EPS. The company’s revenue was up 21.2% compared to the same quarter last year. Analysts predict that Dycom Industries, Inc. will post $5.11 EPS for the current fiscal year.
Several analysts have weighed in on the company. FBR & Co cut their target price on Dycom Industries from $121.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 22nd. DA Davidson reaffirmed a “buy” rating and set a $105.00 target price on shares of Dycom Industries in a research note on Tuesday, November 22nd. Finally, Zacks Investment Research raised Dycom Industries from a “sell” rating to a “hold” rating in a research note on Friday, November 18th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $97.19.
In related news, VP Rebecca Brightly Roach sold 470 shares of the stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $79.95, for a total transaction of $37,576.50. Following the sale, the vice president now directly owns 9,330 shares in the company, valued at approximately $745,933.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Patricia Higgins sold 10,000 shares of the stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $78.68, for a total value of $786,800.00. Following the sale, the director now owns 37,027 shares in the company, valued at $2,913,284.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,470 shares of company stock worth $1,624,377. Corporate insiders own 5.20% of the company’s stock.
Dycom Industries Company Profile
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
Want to see what other hedge funds are holding DY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dycom Industries, Inc. (NYSE:DY).