Point72 Asset Management L.P. Purchases New Holdings in Dycom Industries, Inc. (NYSE:DY)

Point72 Asset Management L.P. purchased a new stake in shares of Dycom Industries, Inc. (NYSE:DY) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 62,015 shares of the construction company’s stock, valued at approximately $12,223,000. Point72 Asset Management L.P. owned 0.21% of Dycom Industries as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in DY. GAMMA Investing LLC boosted its holdings in Dycom Industries by 107.8% during the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock valued at $49,000 after purchasing an additional 152 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Dycom Industries by 56.2% during the second quarter. SG Americas Securities LLC now owns 10,572 shares of the construction company’s stock valued at $1,784,000 after purchasing an additional 3,805 shares in the last quarter. SJS Investment Consulting Inc. boosted its holdings in Dycom Industries by 5,071.4% during the second quarter. SJS Investment Consulting Inc. now owns 362 shares of the construction company’s stock valued at $61,000 after purchasing an additional 355 shares in the last quarter. AlphaMark Advisors LLC acquired a new stake in Dycom Industries during the second quarter valued at approximately $371,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Dycom Industries by 2,353.9% during the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock valued at $26,831,000 after purchasing an additional 152,509 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DY has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. DA Davidson reissued a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. B. Riley boosted their target price on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. KeyCorp upped their price objective on Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Bank of America upped their price objective on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Dycom Industries currently has an average rating of “Buy” and a consensus target price of $206.13.

Dycom Industries Stock Performance

Shares of Dycom Industries stock opened at $192.61 on Friday. The firm has a fifty day moving average of $187.87 and a two-hundred day moving average of $181.80. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.58 and a beta of 1.41. Dycom Industries, Inc. has a 52 week low of $105.67 and a 52 week high of $207.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12.

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.