AQR Capital Management LLC Trims Stock Position in Dycom Industries, Inc. (NYSE:DY)

AQR Capital Management LLC lessened its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 67.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,695 shares of the construction company’s stock after selling 12,017 shares during the period. AQR Capital Management LLC’s holdings in Dycom Industries were worth $335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new position in Dycom Industries in the second quarter valued at $58,000. Public Employees Retirement System of Ohio increased its holdings in Dycom Industries by 20.1% in the second quarter. Public Employees Retirement System of Ohio now owns 2,291 shares of the construction company’s stock valued at $135,000 after buying an additional 384 shares in the last quarter. Sheets Smith Wealth Management purchased a new position in Dycom Industries in the second quarter valued at $207,000. Glen Harbor Capital Management LLC increased its holdings in Dycom Industries by 18.8% in the second quarter. Glen Harbor Capital Management LLC now owns 3,936 shares of the construction company’s stock valued at $232,000 after buying an additional 624 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its holdings in Dycom Industries by 16.1% in the second quarter. Riverhead Capital Management LLC now owns 4,318 shares of the construction company’s stock valued at $254,000 after buying an additional 600 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the stock. Wells Fargo & Co lifted their price objective on shares of Dycom Industries from $52.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. B. Riley cut their price objective on shares of Dycom Industries from $61.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $61.38.

Shares of NYSE DY opened at $47.91 on Friday. The company’s 50-day simple moving average is $47.22 and its 200-day simple moving average is $50.39. Dycom Industries, Inc. has a 52-week low of $40.06 and a 52-week high of $79.90. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 2.45 and a beta of 1.36. The company has a quick ratio of 3.36, a current ratio of 3.66 and a debt-to-equity ratio of 1.14.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 28th. The construction company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.25. Dycom Industries had a net margin of 1.81% and a return on equity of 10.45%. The business had revenue of $884.20 million for the quarter, compared to analyst estimates of $857.82 million. During the same quarter last year, the business earned $1.05 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that Dycom Industries, Inc. will post 2.46 EPS for the current fiscal year.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services in the United States. 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.

Further Reading: Outperform Rating

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

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