Keel Point Lowers stake in Dycom Industries (DY)

Dycom Industries (DY) : Keel Point reduced its stake in Dycom Industries by 3.48% during the most recent quarter end. The investment management company now holds a total of 56,044 shares of Dycom Industries which is valued at $3.9 Million after selling 2,022 shares in Dycom Industries , the firm said in a disclosure report filed with the SEC on May 13, 2016.Dycom Industries makes up approximately 1.95% of Keel Point’s portfolio.

Other Hedge Funds, Including , Chicago Equity Partners sold out all of its stake in DY during the most recent quarter. The investment firm sold 10,245 shares of DY which is valued $704,958.Alps Advisors Inc boosted its stake in DY in the latest quarter, The investment management firm added 1,097 additional shares and now holds a total of 7,549 shares of Dycom Industries which is valued at $519,447. Dycom Industries makes up approx 0.01% of Alps Advisors Inc’s portfolio. American Century Companies Inc added DY to its portfolio by purchasing 23,352 company shares during the most recent quarter which is valued at $1.6 Million.Russell Frank Co boosted its stake in DY in the latest quarter, The investment management firm added 148,313 additional shares and now holds a total of 187,258 shares of Dycom Industries which is valued at $13.2 Million. Dycom Industries makes up approx 0.02% of Russell Frank Co’s portfolio.

Dycom Industries opened for trading at $81.75 and hit $85.21 on the upside on Wednesday, eventually ending the session at $82.3, with a gain of 13.49% or 9.78 points. The heightened volatility saw the trading volume jump to 37,04,118 shares. Company has a market cap of $2,707 M.

On the company’s financial health, Dycom Industries reported $1.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.34 according to the earnings call on May 24, 2016. Analyst had a consensus of $0.74. The company had revenue of $664.60 million for the quarter, compared to analysts expectations of $597.80 million. The company’s revenue was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.

Many Wall Street Analysts have commented on Dycom Industries. Company shares were Reiterated by FBR Capital on May 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 115 from a previous price target of $100 .Company shares were Reiterated by Stifel on May 20, 2016 to “Buy”, Firm has raised the Price Target to $ 86 from a previous price target of $80 .Company shares were Reiterated by Canaccord Genuity on May 11, 2016 to “Buy”, Firm has raised the Price Target to $ 80 from a previous price target of $75 .

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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