State of New Jersey Common Pension Fund D Lowers Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

State of New Jersey Common Pension Fund D reduced its stake in Dycom Industries, Inc. (NYSE:DY) by 53.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,634 shares of the construction company’s stock after selling 12,238 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Dycom Industries were worth $1,795,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Peconic Partners LLC boosted its stake in shares of Dycom Industries by 0.7% in the fourth quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock valued at $375,847,000 after buying an additional 21,635 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Dycom Industries by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock valued at $458,728,000 after buying an additional 12,395 shares in the last quarter. Norges Bank acquired a new position in Dycom Industries during the fourth quarter worth $33,679,000. First Trust Advisors LP raised its holdings in Dycom Industries by 36.3% during the fourth quarter. First Trust Advisors LP now owns 271,782 shares of the construction company’s stock worth $31,279,000 after purchasing an additional 72,415 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Dycom Industries by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 230,216 shares of the construction company’s stock worth $38,851,000 after purchasing an additional 971 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dycom Industries

In other Dycom Industries news, VP Jason T. Lawson sold 856 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $174.48, for a total transaction of $149,354.88. Following the completion of the sale, the vice president now owns 6,937 shares of the company’s stock, valued at $1,210,367.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.28% of the stock is owned by company insiders.

Dycom Industries Price Performance

DY stock opened at $196.04 on Wednesday. The stock has a 50-day moving average price of $180.88 and a two-hundred day moving average price of $164.97. Dycom Industries, Inc. has a 12-month low of $78.42 and a 12-month high of $199.77. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The company has a market cap of $5.70 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business earned $2.03 earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, research analysts predict that Dycom Industries, Inc. will post 8.02 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DY shares. StockNews.com cut Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. KeyCorp boosted their price target on Dycom Industries from $195.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. B. Riley boosted their price target on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Company boosted their price target on Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Bank of America boosted their price target on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $199.57.

About Dycom Industries

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.