Navellier Associates Inc Lowers stake in Dycom Industries (DY)

Dycom Industries (DY) : Navellier Associates Inc reduced its stake in Dycom Industries by 27.68% during the most recent quarter end. The investment management company now holds a total of 98,776 shares of Dycom Industries which is valued at $8,993,555 after selling 37,797 shares in Dycom Industries , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Dycom Industries makes up approximately 1.32% of Navellier Associates Inc’s portfolio.

Other Hedge Funds, Including , Great West Life Assurance Co Can boosted its stake in DY in the latest quarter, The investment management firm added 37,429 additional shares and now holds a total of 40,596 shares of Dycom Industries which is valued at $3,696,266. Dycom Industries makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio. Dupont Capital Management Corp added DY to its portfolio by purchasing 720 company shares during the most recent quarter which is valued at $65,556. Emerald Mutual Fund Advisers Trust added DY to its portfolio by purchasing 176,927 company shares during the most recent quarter which is valued at $16,639,984. Dycom Industries makes up approx 0.88% of Emerald Mutual Fund Advisers Trust’s portfolio.New York State Teachers Retirement System reduced its stake in DY by selling 1,000 shares or 1.01% in the most recent quarter. The Hedge Fund company now holds 97,842 shares of DY which is valued at $9,273,465. Dycom Industries makes up approx 0.02% of New York State Teachers Retirement System’s portfolio.

Dycom Industries closed down -0.66 points or -0.68% at $96.1 with 4,78,757 shares getting traded on Monday. Post opening the session at $97.38, the shares hit an intraday low of $95.25 and an intraday high of $98.45 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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