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

Nisa Investment Advisors LLC cut its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 850 shares of the construction company’s stock after selling 103 shares during the period. Nisa Investment Advisors LLC’s holdings in Dycom Industries were worth $98,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. raised its holdings in Dycom Industries by 40.1% during the first quarter. BlackRock Inc. now owns 4,639,633 shares of the construction company’s stock worth $434,502,000 after purchasing an additional 1,327,595 shares in the last quarter. Peconic Partners LLC raised its holdings in Dycom Industries by 2.9% during the third quarter. Peconic Partners LLC now owns 3,244,047 shares of the construction company’s stock worth $288,720,000 after purchasing an additional 91,093 shares in the last quarter. Vanguard Group Inc. raised its holdings in Dycom Industries by 0.7% during the third quarter. Vanguard Group Inc. now owns 2,753,480 shares of the construction company’s stock worth $263,040,000 after purchasing an additional 18,125 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Dycom Industries by 43.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,728,780 shares of the construction company’s stock worth $161,814,000 after purchasing an additional 524,292 shares in the last quarter. Finally, State Street Corp raised its holdings in Dycom Industries by 0.5% during the second quarter. State Street Corp now owns 1,032,615 shares of the construction company’s stock worth $117,357,000 after purchasing an additional 5,262 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DY has been the topic of several recent analyst reports. KeyCorp boosted their target price on Dycom Industries from $136.00 to $149.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. B. Riley raised Dycom Industries from a “neutral” rating to a “buy” rating and upped their price target for the company from $101.00 to $172.00 in a report on Friday, March 8th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Dycom Industries currently has a consensus rating of “Buy” and an average target price of $135.50.

Insider Activity

In other news, VP Jason T. Lawson sold 220 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $140.27, for a total value of $30,859.40. Following the completion of the sale, the vice president now owns 7,793 shares in the company, valued at $1,093,124.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.25% of the company’s stock.

Dycom Industries Price Performance

NYSE DY opened at $135.56 on Friday. The stock has a market capitalization of $3.94 billion, a P/E ratio of 18.39, a P/E/G ratio of 0.79 and a beta of 1.38. Dycom Industries, Inc. has a 1 year low of $78.42 and a 1 year high of $146.32. The business’s fifty day moving average is $133.32 and its two-hundred day moving average is $112.60. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.85 and a current ratio of 3.06.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, February 28th. The construction company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.15). The firm had revenue of $952.50 million for the quarter, compared to analyst estimates of $968.87 million. Dycom Industries had a net margin of 5.24% and a return on equity of 22.06%. Dycom Industries’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. On average, research analysts forecast that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

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.