Hightower Advisors Lowers stake in Dycom Industries (DY)

Dycom Industries (DY) : Hightower Advisors reduced its stake in Dycom Industries by 22.71% during the most recent quarter end. The investment management company now holds a total of 238,206 shares of Dycom Industries which is valued at $21,343,258 after selling 70,011 shares in Dycom Industries , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Dycom Industries makes up approximately 0.25% of Hightower Advisors’s portfolio.

Other Hedge Funds, Including , Elk Creek Partners reduced its stake in DY by selling 1,146 shares or 0.63% in the most recent quarter. The Hedge Fund company now holds 181,068 shares of DY which is valued at $15,369,052. Dycom Industries makes up approx 1.04% of Elk Creek Partners’s portfolio.Marshall Wace Llp boosted its stake in DY in the latest quarter, The investment management firm added 62,665 additional shares and now holds a total of 72,165 shares of Dycom Industries which is valued at $6,125,365. Dycom Industries makes up approx 0.04% of Marshall Wace Llp’s portfolio. State Of Tennessee Treasury Department sold out all of its stake in DY during the most recent quarter. The investment firm sold 25,013 shares of DY which is valued $2,065,073.Howe Rusling Inc boosted its stake in DY in the latest quarter, The investment management firm added 10 additional shares and now holds a total of 40 shares of Dycom Industries which is valued at $3,326.

Dycom Industries opened for trading at $91.13 and hit $91.96 on the upside on Monday, eventually ending the session at $91.81, with a gain of 0.33% or 0.3 points. The heightened volatility saw the trading volume jump to 7,36,594 shares. Company has a market cap of $2,885 M.

On the company’s financial health, Dycom Industries reported $1.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Aug 23, 2016. Analyst had a consensus of $1.56. The company had revenue of $789.16 million for the quarter, compared to analysts expectations of $771.53 million. The company’s revenue was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS.

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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