WCM Investment Management CA Increases Holdings in Dycom Industries, Inc. (DY)

WCM Investment Management CA raised its position in shares of Dycom Industries, Inc. (NYSE:DY) by 22.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,358 shares of the construction company’s stock after purchasing an additional 16,069 shares during the period. WCM Investment Management CA owned 0.28% of Dycom Industries worth $7,390,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CenterStar Asset Management LLC grew its holdings in Dycom Industries by 1,933.8% during the second quarter. CenterStar Asset Management LLC now owns 1,322 shares of the construction company’s stock valued at $125,000 after purchasing an additional 1,257 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Dycom Industries in the second quarter worth $189,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Dycom Industries in the first quarter worth $245,000. Point72 Hong Kong Ltd boosted its holdings in shares of Dycom Industries by 388.9% in the second quarter. Point72 Hong Kong Ltd now owns 2,283 shares of the construction company’s stock worth $216,000 after acquiring an additional 1,816 shares during the period. Finally, Howe & Rusling Inc. boosted its holdings in shares of Dycom Industries by 45.1% in the second quarter. Howe & Rusling Inc. now owns 2,455 shares of the construction company’s stock worth $232,000 after acquiring an additional 763 shares during the period.

Dycom Industries stock opened at $73.80 on Friday. Dycom Industries, Inc. has a one year low of $65.82 and a one year high of $123.99. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.24 and a quick ratio of 2.96. The firm has a market capitalization of $2.12 billion, a PE ratio of 24.16, a P/E/G ratio of 2.83 and a beta of 1.41.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, August 29th. The construction company reported $1.05 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.05. Dycom Industries had a return on equity of 12.07% and a net margin of 3.94%. The company had revenue of $799.50 million for the quarter, compared to the consensus estimate of $799.51 million. During the same quarter last year, the business posted $1.47 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. Analysts anticipate that Dycom Industries, Inc. will post 2.82 EPS for the current fiscal year.

Dycom Industries announced that its Board of Directors has initiated a share buyback program on Wednesday, August 29th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 6.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

DY has been the subject of a number of analyst reports. Wells Fargo & Co cut their price target on Dycom Industries from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, August 30th. B. Riley reaffirmed a “neutral” rating and issued a $84.00 price target (up from $75.00) on shares of Dycom Industries in a report on Thursday, September 27th. Zacks Investment Research raised Dycom Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 16th. Craig Hallum lowered Dycom Industries from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, ValuEngine lowered Dycom Industries from a “sell” rating to a “strong sell” rating in a report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $101.40.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services in the United States and Canada. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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Institutional Ownership by Quarter for Dycom Industries (NYSE:DY)

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