Kornitzer Capital Management Inc. KS Takes Position in Dycom Industries, Inc. (NYSE:DY)

Kornitzer Capital Management Inc. KS acquired a new stake in Dycom Industries, Inc. (NYSE:DY) during the 3rd quarter, Holdings Channel reports. The firm acquired 67,780 shares of the construction company’s stock, valued at approximately $3,460,000.

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Several other institutional investors have also made changes to their positions in the company. Sigma Planning Corp bought a new stake in shares of Dycom Industries in the third quarter worth about $608,000. Oppenheimer & Co. Inc. increased its holdings in shares of Dycom Industries by 6.6% in the third quarter. Oppenheimer & Co. Inc. now owns 6,825 shares of the construction company’s stock worth $349,000 after purchasing an additional 423 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Dycom Industries by 30.5% in the third quarter. California Public Employees Retirement System now owns 57,300 shares of the construction company’s stock worth $2,925,000 after purchasing an additional 13,376 shares during the last quarter. Howe & Rusling Inc. increased its holdings in shares of Dycom Industries by 11.3% in the third quarter. Howe & Rusling Inc. now owns 5,556 shares of the construction company’s stock worth $284,000 after purchasing an additional 566 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Dycom Industries in the third quarter worth about $416,000. Institutional investors and hedge funds own 95.41% of the company’s stock.

Shares of DY stock traded up $0.75 during trading hours on Friday, hitting $50.76. The stock had a trading volume of 183,137 shares, compared to its average volume of 448,870. Dycom Industries, Inc. has a one year low of $40.06 and a one year high of $75.32. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.66 and a quick ratio of 3.36. The stock’s 50-day moving average price is $48.85 and its two-hundred day moving average price is $50.58. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 2.73 and a beta of 1.34.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, August 28th. The construction company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.25. Dycom Industries had a return on equity of 10.45% and a net margin of 1.81%. The company had revenue of $884.20 million for the quarter, compared to analysts’ expectations of $857.82 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities research analysts predict that Dycom Industries, Inc. will post 2.46 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on DY shares. B. Riley reduced their target price on Dycom Industries from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Wells Fargo & Co lifted their target price on Dycom Industries from $52.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $61.38.

Dycom Industries Profile

Dycom Industries, Inc provides specialty contracting services in the United States. 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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