Teachers Retirement System of The State of Kentucky lowered its position in shares of Dycom Industries, Inc. (NYSE:DY) by 20.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,990 shares of the construction company’s stock after selling 1,800 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Dycom Industries were worth $779,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its stake in Dycom Industries by 9.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 32,139 shares of the construction company’s stock worth $2,760,000 after acquiring an additional 2,723 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of Dycom Industries in the 3rd quarter valued at $234,000. Rhumbline Advisers boosted its holdings in shares of Dycom Industries by 7.8% in the 3rd quarter. Rhumbline Advisers now owns 69,510 shares of the construction company’s stock valued at $5,970,000 after purchasing an additional 5,017 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Dycom Industries in the 3rd quarter valued at $631,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Dycom Industries by 18.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 16,154 shares of the construction company’s stock valued at $1,387,000 after purchasing an additional 2,531 shares in the last quarter.
Shares of Dycom Industries, Inc. (NYSE:DY) opened at $108.53 on Friday. The company has a current ratio of 3.16, a quick ratio of 2.86 and a debt-to-equity ratio of 1.07. Dycom Industries, Inc. has a twelve month low of $73.95 and a twelve month high of $123.99. The firm has a market capitalization of $3,490.87, a price-to-earnings ratio of 28.85, a P/E/G ratio of 1.59 and a beta of 1.39.
Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, February 28th. The construction company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Dycom Industries had a return on equity of 18.67% and a net margin of 5.08%. The company had revenue of $655.13 million for the quarter, compared to the consensus estimate of $655.72 million. During the same quarter last year, the business posted $0.82 EPS. Dycom Industries’s revenue for the quarter was down 6.6% on a year-over-year basis. research analysts forecast that Dycom Industries, Inc. will post 5.71 earnings per share for the current year.
In related news, Director Patricia Higgins sold 2,604 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $109.08, for a total transaction of $284,044.32. Following the sale, the director now owns 30,246 shares of the company’s stock, valued at approximately $3,299,233.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.35% of the company’s stock.
A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 15th. B. Riley raised their target price on Dycom Industries from $132.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, March 1st. Wells Fargo raised their target price on Dycom Industries from $108.50 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Craig Hallum reaffirmed a “buy” rating and issued a $129.00 target price (up previously from $114.00) on shares of Dycom Industries in a report on Tuesday, February 13th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $125.00 target price (up previously from $110.00) on shares of Dycom Industries in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $122.00.
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About Dycom Industries
Dycom Industries, Inc provides specialty contracting services in the United States and Canada. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.
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