PNC Financial Services Group Inc. Cuts Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

PNC Financial Services Group Inc. trimmed its position in shares of Dycom Industries, Inc. (NYSE:DY) by 12.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,379 shares of the construction company’s stock after selling 330 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Dycom Industries were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of DY. Versant Capital Management Inc purchased a new stake in shares of Dycom Industries in the first quarter worth about $28,000. GeoWealth Management LLC lifted its holdings in shares of Dycom Industries by 35.9% in the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company’s stock worth $61,000 after buying an additional 92 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Dycom Industries by 107.0% in the fourth quarter. Federated Hermes Inc. now owns 387 shares of the construction company’s stock worth $67,000 after buying an additional 200 shares in the last quarter. Archer Investment Corp purchased a new stake in shares of Dycom Industries in the first quarter worth about $99,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of Dycom Industries by 1,775.0% in the fourth quarter. Lazard Asset Management LLC now owns 675 shares of the construction company’s stock worth $117,000 after buying an additional 639 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Stock Performance

Shares of Dycom Industries stock opened at $267.45 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.68 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $7.73 billion, a P/E ratio of 33.90, a P/E/G ratio of 1.53 and a beta of 1.34. The business has a fifty day simple moving average of $253.10 and a two-hundred day simple moving average of $202.55. Dycom Industries, Inc. has a 12 month low of $131.37 and a 12 month high of $285.64.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DY shares. KeyCorp upped their price objective on shares of Dycom Industries from $255.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. UBS Group upped their price objective on shares of Dycom Industries from $258.00 to $288.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. B. Riley upped their price objective on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Wells Fargo & Company upped their price objective on shares of Dycom Industries from $215.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Finally, Raymond James Financial upped their price objective on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Dycom Industries presently has an average rating of “Buy” and an average target price of $259.00.

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.