Appian Way Asset Management LP Increases Stake in Dycom Industries, Inc. (NYSE:DY)

Appian Way Asset Management LP grew its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 17.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,551 shares of the construction company’s stock after buying an additional 30,207 shares during the quarter. Dycom Industries accounts for approximately 9.0% of Appian Way Asset Management LP’s holdings, making the stock its 4th biggest holding. Appian Way Asset Management LP’s holdings in Dycom Industries were worth $39,923,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Janus Henderson Group PLC boosted its stake in Dycom Industries by 168.5% during the first quarter. Janus Henderson Group PLC now owns 36,835 shares of the construction company’s stock worth $5,287,000 after buying an additional 23,117 shares during the period. Hsbc Holdings PLC grew its position in Dycom Industries by 193.7% in the 2nd quarter. Hsbc Holdings PLC now owns 7,819 shares of the construction company’s stock valued at $1,317,000 after acquiring an additional 5,157 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Dycom Industries by 2,353.9% in the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock worth $26,831,000 after purchasing an additional 152,509 shares during the period. Whalen Wealth Management Inc. purchased a new stake in shares of Dycom Industries during the third quarter valued at $773,000. Finally, Creative Planning grew its holdings in shares of Dycom Industries by 19.2% in the third quarter. Creative Planning now owns 6,560 shares of the construction company’s stock worth $1,293,000 after purchasing an additional 1,055 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Dycom Industries Trading Up 0.3 %

Dycom Industries stock opened at $181.16 on Friday. The stock has a 50-day moving average price of $188.25 and a 200 day moving average price of $180.16. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 1.46 and a beta of 1.44. Dycom Industries, Inc. has a 52 week low of $100.27 and a 52 week high of $207.20. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89.

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.