Manatuck Hill Partners buys $6,373,780 stake in Dycom Industries (DY)

Dycom Industries (DY) : Manatuck Hill Partners scooped up 32,400 additional shares in Dycom Industries during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 74,200 shares of Dycom Industries which is valued at $6,373,780.Dycom Industries makes up approximately 2.66% of Manatuck Hill Partners’s portfolio.

Other Hedge Funds, Including , Wolverine Asset Management sold out all of its stake in DY during the most recent quarter. The investment firm sold 50,000 shares of DY which is valued $4,295,000.Next Century Growth Investors boosted its stake in DY in the latest quarter, The investment management firm added 186,324 additional shares and now holds a total of 591,680 shares of Dycom Industries which is valued at $50,825,312. Dycom Industries makes up approx 2.26% of Next Century Growth Investors’s portfolio. Raymond James Associates added DY to its portfolio by purchasing 10,006 company shares during the most recent quarter which is valued at $859,515.Blackrock Fund Advisors reduced its stake in DY by selling 97,057 shares or 4.72% in the most recent quarter. The Hedge Fund company now holds 1,958,776 shares of DY which is valued at $168,258,858. Dycom Industries makes up approx 0.04% of Blackrock Fund Advisors’s portfolio.Tocqueville Asset Management reduced its stake in DY by selling 5,087 shares or 3.6% in the most recent quarter. The Hedge Fund company now holds 136,250 shares of DY which is valued at $12,814,313. Dycom Industries makes up approx 0.16% of Tocqueville Asset Management’s portfolio.

Dycom Industries opened for trading at $81.5 and hit $83.88 on the upside on Thursday, eventually ending the session at $83.19, with a gain of 2.55% or 2.07 points. The heightened volatility saw the trading volume jump to 10,50,807 shares. Company has a market cap of $2,608 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.

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 .

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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