Pennant Capital Management LLC Maintains Stake in Dycom Industries, Inc. (DY)

Pennant Capital Management LLC continued to hold its position in shares of Dycom Industries, Inc. (NYSE:DY) during the first quarter, Holdings Channel reports. The firm owned 741,550 shares of the construction company’s stock at the end of the first quarter. Dycom Industries makes up about 3.3% of Pennant Capital Management LLC’s holdings, making the stock its 9th largest position. Pennant Capital Management LLC’s holdings in Dycom Industries were worth $68,927,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of DY. Advisors Preferred LLC bought a new position in shares of Dycom Industries during the first quarter worth about $104,000. Acrospire Investment Management LLC purchased a new position in shares of Dycom Industries during the first quarter worth about $121,000. Flinton Capital Management LLC purchased a new position in shares of Dycom Industries during the fourth quarter worth about $126,000. Capstone Asset Management Co. purchased a new position in shares of Dycom Industries during the first quarter worth about $219,000. Finally, Atria Investments LLC purchased a new position in shares of Dycom Industries during the first quarter worth about $226,000.

Institutional Ownership by Quarter for Dycom Industries (NYSE:DY)

Dycom Industries, Inc. (DY) traded down 0.18% during trading on Friday, reaching $89.06. 791,968 shares of the company’s stock traded hands. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 17.51 and a beta of 1.12. The company has a 50 day moving average of $97.73 and a 200 day moving average of $88.73. Dycom Industries, Inc. has a one year low of $70.33 and a one year high of $110.64.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, May 24th. The construction company reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.11. Dycom Industries had a return on equity of 28.96% and a net margin of 5.30%. The firm had revenue of $786.30 million during the quarter, compared to the consensus estimate of $736.20 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue was up 18.3% compared to the same quarter last year. Equities research analysts predict that Dycom Industries, Inc. will post $5.23 EPS for the current year.

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A number of equities analysts recently issued reports on DY shares. Wells Fargo & Company reiterated an “overweight” rating on shares of Dycom Industries in a research note on Wednesday, April 19th. Zacks Investment Research cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. Stifel Nicolaus reiterated a “buy” rating and issued a $120.00 price target (up previously from $112.00) on shares of Dycom Industries in a research note on Saturday, April 22nd. ValuEngine cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $52.00 price target on shares of Dycom Industries in a research note on Thursday, May 25th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Dycom Industries presently has a consensus rating of “Buy” and a consensus target price of $102.09.

Dycom Industries Company Profile

Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.

Want to see what other hedge funds are holding DY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dycom Industries, Inc. (NYSE:DY).

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