Dycom Industries, Inc. (NYSE:DY) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 23.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,423 shares of the construction company’s stock after selling 1,373 shares during the quarter. ProShare Advisors LLC’s holdings in Dycom Industries were worth $746,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DY. US Bancorp DE raised its holdings in Dycom Industries by 109.3% in the 4th quarter. US Bancorp DE now owns 14,623 shares of the construction company’s stock valued at $1,683,000 after acquiring an additional 7,638 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Dycom Industries by 33.1% in the first quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company’s stock valued at $4,630,000 after purchasing an additional 8,028 shares during the period. Sheets Smith Wealth Management increased its stake in Dycom Industries by 100.0% in the first quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock valued at $1,009,000 after purchasing an additional 3,514 shares during the last quarter. Vanguard Group Inc. lifted its position in Dycom Industries by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock worth $366,406,000 after buying an additional 42,121 shares during the period. Finally, Peconic Partners LLC boosted its stake in Dycom Industries by 0.7% in the 4th quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock worth $375,847,000 after buying an additional 21,635 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Trading Up 0.7 %

NYSE:DY opened at $192.84 on Friday. Dycom Industries, Inc. has a 12 month low of $78.42 and a 12 month high of $199.77. The business’s 50-day moving average is $182.00 and its two-hundred day moving average is $165.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25. The firm has a market capitalization of $5.61 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 2.09 and a beta of 1.41.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Bank of America increased their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. B. Riley boosted their price objective on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. KeyCorp increased their target price on Dycom Industries from $195.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. 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 a consensus target price of $199.57.

Insider Buying and Selling

In other news, VP Jason T. Lawson sold 856 shares of Dycom Industries 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 sale, the vice president now directly owns 6,937 shares of the company’s stock, valued at $1,210,367.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.28% of the stock is currently owned by insiders.

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.