Public Employees Retirement Association of Colorado Cuts Stake in Dycom Industries, Inc. (NYSE:DY)

Public Employees Retirement Association of Colorado reduced its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 9.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,681 shares of the construction company’s stock after selling 382 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Dycom Industries were worth $528,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its position in shares of Dycom Industries by 109.3% during 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 boosted its position in shares of Dycom Industries by 33.1% during the 1st quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company’s stock valued at $4,630,000 after acquiring an additional 8,028 shares during the last quarter. Cubic Asset Management LLC boosted its position in shares of Dycom Industries by 171.6% during the 4th quarter. Cubic Asset Management LLC now owns 11,882 shares of the construction company’s stock valued at $1,367,000 after acquiring an additional 7,507 shares during the last quarter. Sheets Smith Wealth Management boosted its position in shares of Dycom Industries by 100.0% during the 1st quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock valued at $1,009,000 after acquiring an additional 3,514 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Dycom Industries by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock valued at $366,406,000 after acquiring an additional 42,121 shares during the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Jason T. Lawson sold 856 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $174.48, for a total transaction of $149,354.88. Following the transaction, the vice president now owns 6,937 shares in the company, valued at $1,210,367.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.28% of the company’s stock.

Dycom Industries Stock Down 1.8 %

NYSE:DY opened at $180.17 on Friday. Dycom Industries, Inc. has a twelve month low of $78.42 and a twelve month high of $188.53. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 1.94 and a beta of 1.45. The stock has a fifty day simple moving average of $175.30 and a 200-day simple moving average of $147.47. The company has a current ratio of 3.17, a quick ratio of 2.97 and a debt-to-equity ratio of 0.78.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.73. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $1.73 earnings per share. Analysts anticipate that Dycom Industries, Inc. will post 8.02 EPS for the current year.

Wall Street Analysts Forecast Growth

DY has been the subject of a number of analyst reports. UBS Group raised their price target on Dycom Industries from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Craig Hallum raised their price target on Dycom Industries from $145.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. B. Riley raised their price target on Dycom Industries from $172.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Wells Fargo & Company raised their price target on Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, KeyCorp raised their price target on Dycom Industries from $169.00 to $179.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $195.29.

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.