Harbour Capital Advisors LLC Buys 2,450 Shares of Dycom Industries, Inc. (NYSE:DY)

Harbour Capital Advisors LLC grew its stake in Dycom Industries, Inc. (NYSE:DY) by 57.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,725 shares of the construction company’s stock after purchasing an additional 2,450 shares during the period. Harbour Capital Advisors LLC’s holdings in Dycom Industries were worth $995,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in Dycom Industries by 209.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company’s stock worth $68,000 after purchasing an additional 264 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Dycom Industries by 105.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the construction company’s stock worth $194,000 after purchasing an additional 572 shares during the last quarter. J. Goldman & Co LP increased its stake in shares of Dycom Industries by 25.4% in the fourth quarter. J. Goldman & Co LP now owns 90,253 shares of the construction company’s stock valued at $15,709,000 after buying an additional 18,289 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Dycom Industries by 8.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,190 shares of the construction company’s stock valued at $729,000 after buying an additional 324 shares during the period. Finally, Federated Hermes Inc. boosted its position in Dycom Industries by 107.0% during the 4th quarter. Federated Hermes Inc. now owns 387 shares of the construction company’s stock worth $67,000 after buying an additional 200 shares during the period. 98.33% of the stock is owned by institutional investors.

Dycom Industries Price Performance

Shares of NYSE DY opened at $235.53 on Tuesday. The company has a market capitalization of $6.81 billion, a PE ratio of 29.85, a P/E/G ratio of 1.33 and a beta of 1.32. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.80. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $243.38. The firm has a fifty day simple moving average of $202.25 and a 200 day simple moving average of $181.56.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.47. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $2.12 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Dycom Industries announced that its board has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on DY. JPMorgan Chase & Co. upped their price target on shares of Dycom Industries from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, May 22nd. Wall Street Zen raised shares of Dycom Industries from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. B. Riley increased their price objective on Dycom Industries from $200.00 to $265.00 and gave the company a “buy” rating in a report on Friday, May 23rd. KeyCorp lowered their target price on Dycom Industries from $201.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company lifted their target price on Dycom Industries from $215.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Dycom Industries has a consensus rating of “Buy” and an average price target of $241.25.

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.