Emerald Mutual Fund Advisers Trust Sells 14,266 Shares of Dycom Industries, Inc. (DY)

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Emerald Mutual Fund Advisers Trust lowered its holdings in Dycom Industries, Inc. (NYSE:DY) by 6.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 217,605 shares of the construction company’s stock after selling 14,266 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Dycom Industries were worth $18,409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Pembroke Management LTD lifted its holdings in Dycom Industries by 36.1% in the third quarter. Pembroke Management LTD now owns 194,020 shares of the construction company’s stock worth $16,414,000 after acquiring an additional 51,420 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Dycom Industries in the third quarter worth about $423,000. Assenagon Asset Management S.A. bought a new position in Dycom Industries in the third quarter worth about $1,666,000. Asset Advisors Investment Management LLC bought a new position in Dycom Industries in the third quarter worth about $1,454,000. Finally, Russell Investments Group Ltd. lifted its holdings in Dycom Industries by 17.0% in the third quarter. Russell Investments Group Ltd. now owns 47,075 shares of the construction company’s stock worth $3,982,000 after acquiring an additional 6,856 shares during the last quarter.

Shares of NYSE:DY opened at $67.88 on Thursday. Dycom Industries, Inc. has a 52 week low of $65.82 and a 52 week high of $123.99. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 2.88 and a beta of 1.21. The company has a current ratio of 3.24, a quick ratio of 2.96 and a debt-to-equity ratio of 0.93.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Wednesday, August 29th. The construction company reported $1.05 EPS for the quarter, meeting the consensus estimate of $1.05. Dycom Industries had a net margin of 3.94% and a return on equity of 12.07%. The company had revenue of $799.50 million for the quarter, compared to analyst estimates of $799.51 million. During the same quarter last year, the business earned $1.47 earnings per share. Dycom Industries’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that Dycom Industries, Inc. will post 2.82 EPS for the current year.

Dycom Industries declared that its board has approved a share buyback plan on Wednesday, August 29th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Several equities research analysts have commented on DY shares. TheStreet lowered shares of Dycom Industries from a “b-” rating to a “c+” rating in a research note on Friday, October 19th. Zacks Investment Research upgraded shares of Dycom Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 16th. B. Riley restated a “neutral” rating and issued a $84.00 price target (up previously from $75.00) on shares of Dycom Industries in a research note on Thursday, September 27th. Deutsche Bank set a $93.00 price target on shares of Dycom Industries and gave the company a “buy” rating in a research note on Thursday, August 30th. Finally, Wells Fargo & Co dropped their price target on shares of Dycom Industries from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, August 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target 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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