Nichols Asset Management adds Dycom Industries (DY) to its portfolio

Dycom Industries (DY) : Nichols Asset Management added new position in Dycom Industries during the most recent quarter end. The investment management firm now holds 112,007 shares of Dycom Industries which is valued at $7,614,236 , the company said in a statement filed on Apr 21, 2016 with the SEC.Dycom Industries makes up approximately 1.64% of Nichols Asset Management’s portfolio.

Dycom Industries opened for trading at $69.63 and hit $71.09 on the upside on Wednesday, eventually ending the session at $71.06, with a gain of 4.07% or 2.78 points. The heightened volatility saw the trading volume jump to 5,94,579 shares. Company has a market cap of $2,338 M.

Other Hedge Funds, Including , Strs Ohio reduced its stake in DY by selling 1,500 shares or 34.09% in the most recent quarter. The Hedge Fund company now holds 2,900 shares of DY which is valued at $197,142. Dycom Industries makes up approx 0.01% of Strs Ohio’s portfolio.Santa Fe Partners reduced its stake in DY by selling 15,938 shares or 40.25% in the most recent quarter. The Hedge Fund company now holds 23,658 shares of DY which is valued at $1,588,162. Dycom Industries makes up approx 0.26% of Santa Fe Partners’s portfolio. Phoenix Investment Adviser added DY to its portfolio by purchasing 10,000 company shares during the most recent quarter which is valued at $671,300. Dycom Industries makes up approx 0.84% of Phoenix Investment Adviser’s portfolio.Capstone Asset Management Co reduced its stake in DY by selling 560 shares or 4.73% in the most recent quarter. The Hedge Fund company now holds 11,290 shares of DY which is valued at $757,898. Dycom Industries makes up approx 0.02% of Capstone Asset Management Co’s portfolio.Creative Planning boosted its stake in DY in the latest quarter, The investment management firm added 657 additional shares and now holds a total of 2,381 shares of Dycom Industries which is valued at $154,098.

On the company’s financial health, Dycom Industries reported $0.54 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 23, 2016. Analyst had a consensus of $0.56. The company had revenue of $559.50 million for the quarter, compared to analysts expectations of $542.98 million. The company’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Dycom Industries. Canaccord Genuity Initiated Dycom Industries on Apr 12, 2016 to “Buy”, Price Target of the shares are set at $75.Shares were Reiterated by Stifel on Mar 3, 2016 to “Buy” and Lowered the Price Target to $ 80 from a previous price target of $100 .

Dycom Industries Inc. is a provider of specialty contracting services throughout the United States and in Canada. The Company through its subsidiaries provides engineering construction maintenance and installation services to telecommunications providers underground facility locating services to various utilities including telecommunications providers and other construction and maintenance services to electric and gas utilities. It offers engineering services which include the design of aerial underground and buried fiber optic copper and coaxial cable systems that extend from the telephone company central office or cable operator headend to the consumer’s home or business. It also provides tower construction lines and antenna installation and foundation and equipment pad construction for wireless carriers as well as equipment installation and material fabrication and site testing services.

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