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

Appian Way Asset Management LP raised its position in shares of Dycom Industries, Inc. (NYSE:DY) by 17.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 202,551 shares of the construction company’s stock after purchasing an additional 30,207 shares during the quarter. Dycom Industries accounts for about 9.0% of Appian Way Asset Management LP’s investment portfolio, making the stock its 4th biggest holding. Appian Way Asset Management LP owned 0.70% of Dycom Industries worth $39,923,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DY. Accent Capital Management LLC bought a new stake in Dycom Industries in the 3rd quarter worth about $25,000. Annapolis Financial Services LLC bought a new position in Dycom Industries in the third quarter valued at about $29,000. Anchor Investment Management LLC boosted its position in Dycom Industries by 50.4% in the second quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock worth $33,000 after purchasing an additional 65 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Dycom Industries by 25.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock valued at $57,000 after purchasing an additional 59 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Dycom Industries by 107.8% during the 2nd quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock valued at $49,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Price Performance

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

Analysts Set New Price Targets

Several analysts recently issued reports on DY shares. Wells Fargo & Company boosted their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. DA Davidson reissued a “buy” rating and set a $210.00 price objective on shares of Dycom Industries in a research report on Tuesday, November 19th. KeyCorp raised their target price on Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Bank of America boosted their price target on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, B. Riley raised their price objective on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Dycom Industries has a consensus rating of “Buy” and a consensus target price of $206.13.

Dycom Industries 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.