Vident Investment Advisory LLC decreased its position in shares of Dycom Industries, Inc. (NYSE:DY) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 27,646 shares of the construction company’s stock after selling 601 shares during the quarter. Vident Investment Advisory LLC’s holdings in Dycom Industries were worth $3,081,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in DY. Fred Alger Management Inc. acquired a new position in shares of Dycom Industries during the fourth quarter valued at $28,076,000. SG Capital Management LLC acquired a new position in shares of Dycom Industries during the third quarter valued at $15,925,000. Peregrine Capital Management LLC acquired a new position in shares of Dycom Industries during the fourth quarter valued at $18,241,000. Alliancebernstein L.P. lifted its holdings in Dycom Industries by 15.1% in the fourth quarter. Alliancebernstein L.P. now owns 1,025,193 shares of the construction company’s stock worth $114,237,000 after purchasing an additional 134,410 shares during the period. Finally, Guggenheim Capital LLC lifted its holdings in Dycom Industries by 166.0% in the fourth quarter. Guggenheim Capital LLC now owns 158,055 shares of the construction company’s stock worth $17,613,000 after purchasing an additional 98,640 shares during the period.
In other Dycom Industries news, Director Patricia Higgins sold 2,604 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $109.08, for a total value of $284,044.32. Following the completion of the sale, the director now directly owns 30,246 shares of the company’s stock, valued at approximately $3,299,233.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.35% of the stock is currently owned by corporate insiders.
Shares of Dycom Industries stock opened at $112.81 on Monday. Dycom Industries, Inc. has a 1-year low of $73.95 and a 1-year high of $123.99. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.16 and a quick ratio of 2.86. The firm has a market cap of $3,518.32, a PE ratio of 23.80, a price-to-earnings-growth ratio of 1.60 and a beta of 1.39.
Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. Dycom Industries had a net margin of 5.08% and a return on equity of 18.67%. The company had revenue of $655.13 million during the quarter, compared to the consensus estimate of $655.72 million. During the same period in the prior year, the company earned $0.82 EPS. Dycom Industries’s revenue was down 6.6% on a year-over-year basis. equities research analysts anticipate that Dycom Industries, Inc. will post 5.71 earnings per share for the current fiscal year.
Several research firms recently weighed in on DY. ValuEngine raised shares of Dycom Industries from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. KeyCorp reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Dycom Industries in a report on Thursday, December 21st. Zacks Investment Research downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Thursday. DA Davidson upped their price objective on shares of Dycom Industries to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, November 21st. Finally, Stifel Nicolaus upped their price objective on shares of Dycom Industries from $93.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. Dycom Industries has a consensus rating of “Buy” and a consensus target price of $122.00.
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About Dycom Industries
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
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