Bessemer Group Inc. Has $106,000 Holdings in Dycom Industries, Inc. (NYSE:DY)

Bessemer Group Inc. lessened its stake in Dycom Industries, Inc. (NYSE:DY) by 11.2% in the first quarter, Holdings Channel reports. The firm owned 701 shares of the construction company’s stock after selling 88 shares during the quarter. Bessemer Group Inc.’s holdings in Dycom Industries were worth $106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in Dycom Industries by 209.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company’s stock valued at $68,000 after purchasing an additional 264 shares in the last quarter. SG Americas Securities LLC acquired a new position in Dycom Industries during the first quarter worth about $342,000. Public Employees Retirement System of Ohio raised its stake in 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 acquiring an additional 572 shares in the last quarter. J. Goldman & Co LP raised its stake in Dycom Industries by 25.4% during the fourth quarter. J. Goldman & Co LP now owns 90,253 shares of the construction company’s stock worth $15,709,000 after acquiring an additional 18,289 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in Dycom Industries by 8.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,190 shares of the construction company’s stock worth $729,000 after acquiring an additional 324 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen raised Dycom Industries from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. 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 note on Wednesday, April 16th. Wells Fargo & Company boosted their target price on Dycom Industries from $215.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 27th. JPMorgan Chase & Co. boosted their target price on Dycom Industries from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, May 22nd. Finally, DA Davidson boosted their target price on Dycom Industries from $220.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $241.25.

Dycom Industries Stock Performance

NYSE:DY opened at $250.36 on Friday. The stock has a market cap of $7.24 billion, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.32. The company has a current ratio of 2.89, a quick ratio of 2.68 and a debt-to-equity ratio of 0.80. The stock’s 50-day moving average is $216.28 and its 200-day moving average is $185.02. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $251.73.

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

About Dycom Industries

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.