Franklin Resources Inc. Has $29.24 Million Holdings in Dycom Industries, Inc. (NYSE:DY)

Franklin Resources Inc. raised its position in shares of Dycom Industries, Inc. (NYSE:DY) by 17.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 154,814 shares of the construction company’s stock after acquiring an additional 23,270 shares during the period. Franklin Resources Inc.’s holdings in Dycom Industries were worth $29,237,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DY. Accent Capital Management LLC acquired a new position in Dycom Industries in the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new position in Dycom Industries in the third quarter valued at about $28,000. Annapolis Financial Services LLC purchased a new stake in shares of Dycom Industries during the 3rd quarter worth about $29,000. Anchor Investment Management LLC lifted its holdings in shares of Dycom Industries by 50.4% during the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after buying an additional 65 shares during the last quarter. Finally, SOA Wealth Advisors LLC. bought a new stake in shares of Dycom Industries in the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

DY has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. DA Davidson reiterated a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. Bank of America raised their price objective on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. B. Riley increased their price target on Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, KeyCorp upped their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Dycom Industries presently has a consensus rating of “Buy” and an average price target of $206.13.

Dycom Industries Stock Down 4.9 %

Shares of DY opened at $168.30 on Thursday. Dycom Industries, Inc. has a 52 week low of $107.53 and a 52 week high of $207.20. The firm has a market capitalization of $4.91 billion, a P/E ratio of 22.14, a P/E/G ratio of 1.45 and a beta of 1.41. The company has a 50-day simple moving average of $186.26 and a 200-day simple moving average of $181.91. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.