Dycom Industries (NYSE:DY) Sees Unusually-High Trading Volume

Shares of Dycom Industries, Inc. (NYSE:DYGet Rating) saw unusually-high trading volume on Tuesday . Approximately 11,116 shares changed hands during trading, a decline of 97% from the previous session’s volume of 339,284 shares.The stock last traded at $100.04 and had previously closed at $109.55.

Analyst Upgrades and Downgrades

DY has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Dycom Industries from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, November 14th. Craig Hallum upped their price target on shares of Dycom Industries from $121.00 to $133.00 in a research report on Thursday, August 25th. StockNews.com assumed coverage on shares of Dycom Industries in a research report on Wednesday, October 12th. They set a “buy” rating for the company. KeyCorp upped their price target on shares of Dycom Industries from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, August 23rd. Finally, DA Davidson upped their price target on shares of Dycom Industries from $125.00 to $145.00 in a research report on Thursday, August 25th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $128.00.

Dycom Industries Stock Up 1.4 %

The company’s fifty day moving average is $106.30 and its 200-day moving average is $101.02. The company has a market capitalization of $2.69 billion, a PE ratio of 29.69 and a beta of 1.44. The company has a debt-to-equity ratio of 1.02, a quick ratio of 3.09 and a current ratio of 3.32.

Dycom Industries (NYSE:DYGet Rating) last released its earnings results on Wednesday, August 24th. The construction company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.47. The company had revenue of $972.30 million during the quarter, compared to analyst estimates of $932.37 million. Dycom Industries had a net margin of 2.68% and a return on equity of 11.38%. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. As a group, analysts predict that Dycom Industries, Inc. will post 3.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Dwight B. Duke sold 4,534 shares of the stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $103.69, for a total value of $470,130.46. Following the completion of the sale, the director now directly owns 39,139 shares of the company’s stock, valued at approximately $4,058,322.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Dycom Industries news, Director Dwight B. Duke sold 4,534 shares of the stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $103.69, for a total transaction of $470,130.46. Following the completion of the sale, the director now directly owns 39,139 shares of the company’s stock, valued at approximately $4,058,322.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Steven E. Nielsen sold 69,062 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $112.75, for a total transaction of $7,786,740.50. Following the sale, the chief executive officer now directly owns 688,778 shares of the company’s stock, valued at $77,659,719.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,957 shares of company stock valued at $10,446,088. 4.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dycom Industries

A number of institutional investors have recently added to or reduced their stakes in DY. Victory Capital Management Inc. boosted its position in shares of Dycom Industries by 44.7% during the 1st quarter. Victory Capital Management Inc. now owns 9,667 shares of the construction company’s stock valued at $821,000 after acquiring an additional 2,985 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Dycom Industries during the 1st quarter valued at approximately $4,882,000. Mutual of America Capital Management LLC boosted its position in shares of Dycom Industries by 1.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 27,524 shares of the construction company’s stock valued at $2,622,000 after acquiring an additional 526 shares during the last quarter. GW&K Investment Management LLC boosted its position in shares of Dycom Industries by 21.0% during the 1st quarter. GW&K Investment Management LLC now owns 51,664 shares of the construction company’s stock valued at $4,922,000 after acquiring an additional 8,956 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Dycom Industries by 9.3% during the 1st quarter. Principal Financial Group Inc. now owns 846,628 shares of the construction company’s stock valued at $80,650,000 after acquiring an additional 71,885 shares during the last quarter. 93.32% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Company Profile

(Get Rating)

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers program management and engineering services; plans and designs aerial, underground, and buried fiber optic, copper, and coaxial cable systems; and construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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