Arizona State Retirement System Cuts Stock Position in Dycom Industries, Inc. (NYSE:DY)

Arizona State Retirement System lowered its position in Dycom Industries, Inc. (NYSE:DY) by 1.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,201 shares of the construction company’s stock after selling 148 shares during the quarter. Arizona State Retirement System’s holdings in Dycom Industries were worth $944,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its position in shares of Dycom Industries by 114.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 490 shares of the construction company’s stock worth $45,000 after buying an additional 261 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Dycom Industries by 15.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 974 shares of the construction company’s stock worth $87,000 after purchasing an additional 132 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Dycom Industries by 43.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 996 shares of the construction company’s stock worth $113,000 after purchasing an additional 302 shares in the last quarter. SkyView Investment Advisors LLC acquired a new stake in Dycom Industries in the 1st quarter worth approximately $173,000. Finally, Captrust Financial Advisors boosted its stake in Dycom Industries by 61.8% in the 1st quarter. Captrust Financial Advisors now owns 1,974 shares of the construction company’s stock worth $188,000 after purchasing an additional 754 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Stock Performance

Shares of NYSE DY opened at $135.32 on Wednesday. The company has a current ratio of 3.06, a quick ratio of 2.85 and a debt-to-equity ratio of 0.75. Dycom Industries, Inc. has a 12 month low of $78.42 and a 12 month high of $146.32. The company has a 50 day simple moving average of $132.20 and a two-hundred day simple moving average of $111.76. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 0.81 and a beta of 1.38.

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

Insider Activity at Dycom Industries

In related news, VP Jason T. Lawson sold 220 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $140.27, for a total value of $30,859.40. Following the completion of the transaction, the vice president now directly owns 7,793 shares in the company, valued at approximately $1,093,124.11. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.32% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on DY shares. KeyCorp lifted their target price on shares of Dycom Industries from $136.00 to $149.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. B. Riley upgraded shares of Dycom Industries from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $101.00 to $172.00 in a research note 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $135.50.

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.