Dycom Industries, Inc. (NYSE:DY) Stake Reduced by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in Dycom Industries, Inc. (NYSE:DY) by 83.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,031 shares of the construction company’s stock after selling 10,329 shares during the quarter. SG Americas Securities LLC’s holdings in Dycom Industries were worth $234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peconic Partners LLC raised its position in Dycom Industries by 2.9% in the third quarter. Peconic Partners LLC now owns 3,244,047 shares of the construction company’s stock worth $288,720,000 after acquiring an additional 91,093 shares in the last quarter. Invesco Ltd. raised its position in Dycom Industries by 7.3% in the third quarter. Invesco Ltd. now owns 122,809 shares of the construction company’s stock worth $10,930,000 after acquiring an additional 8,316 shares in the last quarter. abrdn plc raised its position in Dycom Industries by 275.0% in the third quarter. abrdn plc now owns 15,000 shares of the construction company’s stock worth $1,335,000 after acquiring an additional 11,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Dycom Industries by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 400,906 shares of the construction company’s stock worth $35,681,000 after acquiring an additional 12,757 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in Dycom Industries in the third quarter worth about $1,723,000. 98.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DY has been the topic of several research reports. KeyCorp boosted their price target on shares of Dycom Industries from $136.00 to $149.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. B. Riley upgraded Dycom Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $101.00 to $172.00 in a report on Friday, March 8th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $135.50.

Dycom Industries Trading Up 0.9 %

Shares of NYSE DY opened at $138.73 on Friday. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 0.84 and a beta of 1.38. The business has a 50 day simple moving average of $130.88 and a 200 day simple moving average of $110.48. Dycom Industries, Inc. has a 52 week low of $78.42 and a 52 week high of $146.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.85 and a current ratio of 3.06.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, February 28th. The construction company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.15). The company had revenue of $952.50 million for the quarter, compared to the consensus estimate of $968.87 million. Dycom Industries had a return on equity of 22.06% and a net margin of 5.24%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 EPS. On average, research analysts predict that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dycom Industries news, VP Jason T. Lawson sold 220 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $140.27, for a total transaction of $30,859.40. Following the completion of the sale, the vice president now owns 7,793 shares of the company’s stock, valued at $1,093,124.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.32% of the company’s stock.

Dycom Industries 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.