Peregrine Capital Management LLC raised its stake in Dycom Industries, Inc. (NYSE:DY) by 15.6% during the second quarter, Holdings Channel.com reports. The firm owned 256,487 shares of the construction company’s stock after purchasing an additional 34,569 shares during the quarter. Peregrine Capital Management LLC’s holdings in Dycom Industries were worth $10,488,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of DY. Parallel Advisors LLC raised its position in Dycom Industries by 211.0% in the 1st quarter. Parallel Advisors LLC now owns 1,073 shares of the construction company’s stock valued at $27,000 after purchasing an additional 728 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Dycom Industries during the 2nd quarter worth about $29,000. First Bank & Trust raised its position in shares of Dycom Industries by 383.1% during the 1st quarter. First Bank & Trust now owns 1,546 shares of the construction company’s stock worth $40,000 after acquiring an additional 1,226 shares in the last quarter. FDx Advisors Inc. raised its position in shares of Dycom Industries by 167.6% during the 1st quarter. FDx Advisors Inc. now owns 16,709 shares of the construction company’s stock worth $96,000 after acquiring an additional 10,465 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Dycom Industries by 80.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,336 shares of the construction company’s stock worth $136,000 after acquiring an additional 1,483 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

NYSE:DY traded up $0.42 during mid-day trading on Friday, reaching $42.83. 327,769 shares of the stock were exchanged, compared to its average volume of 276,421. The company has a 50 day simple moving average of $40.10 and a 200-day simple moving average of $35.51. Dycom Industries, Inc. has a 1 year low of $12.24 and a 1 year high of $59.06. The stock has a market capitalization of $1.36 billion, a P/E ratio of 133.85 and a beta of 1.50. The company has a quick ratio of 4.29, a current ratio of 4.51 and a debt-to-equity ratio of 1.69.

Dycom Industries (NYSE:DY) last announced its earnings results on Tuesday, May 19th. The construction company reported $0.36 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.42. Dycom Industries had a return on equity of 7.78% and a net margin of 0.32%. The company had revenue of $814.30 million for the quarter, compared to the consensus estimate of $747.03 million. During the same period last year, the business posted $0.53 EPS. The company’s revenue was down 2.3% on a year-over-year basis. As a group, research analysts predict that Dycom Industries, Inc. will post 2.02 EPS for the current year.

Several brokerages have recently weighed in on DY. Stifel Nicolaus raised their target price on Dycom Industries from $49.00 to $52.50 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Wells Fargo & Co raised their target price on Dycom Industries from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Zacks Investment Research upgraded Dycom Industries from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Friday, May 22nd. B. Riley raised their price target on Dycom Industries from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, DA Davidson raised their price target on Dycom Industries from $38.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Nine equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $45.21.

In other Dycom Industries news, Director Patricia Higgins sold 4,675 shares of Dycom Industries stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $44.78, for a total value of $209,346.50. Following the transaction, the director now directly owns 40,565 shares in the company, valued at approximately $1,816,500.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven E. Nielsen sold 187,791 shares of Dycom Industries stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $42.71, for a total value of $8,020,553.61. Following the completion of the transaction, the chief executive officer now owns 703,813 shares in the company, valued at $30,059,853.23. The disclosure for this sale can be found here. Company insiders own 5.66% of the company’s stock.

About Dycom Industries

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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