Vanguard Group Inc. Sells 52,706 Shares of Dycom Industries, Inc. (NYSE:DY)

Vanguard Group Inc. cut its position in Dycom Industries, Inc. (NYSE:DY) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,094,718 shares of the construction company’s stock after selling 52,706 shares during the quarter. Vanguard Group Inc. owned about 10.75% of Dycom Industries worth $471,449,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Trust Advisors LP lifted its holdings in Dycom Industries by 142.9% during the 4th quarter. First Trust Advisors LP now owns 496,407 shares of the construction company’s stock valued at $86,405,000 after purchasing an additional 292,050 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Dycom Industries by 851.6% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company’s stock valued at $72,459,000 after purchasing an additional 425,652 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Dycom Industries during the 4th quarter valued at $80,584,000. Assenagon Asset Management S.A. lifted its holdings in Dycom Industries by 327.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company’s stock valued at $60,818,000 after purchasing an additional 305,755 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Dycom Industries by 8.7% during the fourth quarter. Northern Trust Corp now owns 320,481 shares of the construction company’s stock worth $55,783,000 after buying an additional 25,571 shares in the last quarter. 98.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DY has been the subject of a number of research reports. Wall Street Zen downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Raymond James Financial lifted their target price on Dycom Industries from $215.00 to $255.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 22nd. Wells Fargo & Company lifted their target price on Dycom Industries from $215.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. UBS Group lifted their target price on Dycom Industries from $258.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Finally, B. Riley lifted their target price on Dycom Industries from $200.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $259.00.

Dycom Industries Stock Down 2.0%

DY stock opened at $268.42 on Friday. The company has a market cap of $7.76 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 1.56 and a beta of 1.34. The business has a 50-day simple moving average of $252.61 and a 200 day simple moving average of $201.95. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $285.64. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.80.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.47. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. Dycom Industries’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.12 earnings per share. Sell-side analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

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.