Maryland State Retirement & Pension System Sells 429 Shares of Dycom Industries, Inc. (NYSE:DY)

Maryland State Retirement & Pension System lowered its position in Dycom Industries, Inc. (NYSE:DY) by 4.1% during the second quarter, Holdings Channel reports. The firm owned 10,143 shares of the construction company’s stock after selling 429 shares during the period. Maryland State Retirement & Pension System’s holdings in Dycom Industries were worth $1,712,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of Dycom Industries in the 4th quarter worth about $6,623,000. Victory Capital Management Inc. increased its holdings in Dycom Industries by 4.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,048 shares of the construction company’s stock worth $1,041,000 after purchasing an additional 415 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Dycom Industries in the fourth quarter valued at approximately $393,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Dycom Industries by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 418,969 shares of the construction company’s stock worth $48,219,000 after buying an additional 18,063 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Dycom Industries during the 4th quarter worth approximately $142,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Price Performance

Shares of DY traded up $4.91 during trading hours on Friday, reaching $175.96. 275,577 shares of the company’s stock traded hands, compared to its average volume of 273,937. Dycom Industries, Inc. has a 12 month low of $78.42 and a 12 month high of $196.34. The company has a current ratio of 3.17, a quick ratio of 2.97 and a debt-to-equity ratio of 0.78. The stock has a market cap of $5.12 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.91 and a beta of 1.45. The firm’s 50 day simple moving average is $176.79 and its 200-day simple moving average is $157.29.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.20. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm earned $2.03 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities analysts expect that Dycom Industries, Inc. will post 8.02 EPS for the current year.

Insider Transactions at Dycom Industries

In related news, VP Jason T. Lawson sold 856 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $174.48, for a total value of $149,354.88. Following the completion of the sale, the vice president now owns 6,937 shares in the company, valued at approximately $1,210,367.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.28% of the company’s stock.

Wall Street Analyst Weigh In

DY has been the topic of several research reports. B. Riley upped their price objective on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company raised their price objective on 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 boosted their price objective on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Raymond James increased their target price on Dycom Industries from $143.00 to $195.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $199.57.

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.