Dycom Industries, Inc. (NYSE:DY) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its holdings in Dycom Industries, Inc. (NYSE:DY) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,572 shares of the construction company’s stock after selling 89 shares during the period. Maryland State Retirement & Pension System’s holdings in Dycom Industries were worth $1,408,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DY. Peconic Partners LLC boosted its holdings in Dycom Industries by 0.7% in the 4th quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock valued at $375,847,000 after purchasing an additional 21,635 shares during the last quarter. Vanguard Group Inc. grew its position in Dycom Industries by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock worth $366,406,000 after acquiring an additional 42,121 shares during the period. Dimensional Fund Advisors LP grew its position in Dycom Industries by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,008,912 shares of the construction company’s stock worth $116,117,000 after acquiring an additional 15,389 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Dycom Industries by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 418,969 shares of the construction company’s stock worth $48,219,000 after acquiring an additional 18,063 shares during the last quarter. Finally, Norges Bank purchased a new stake in Dycom Industries in the fourth quarter valued at $33,679,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Stock Down 1.9 %

DY traded down $3.21 during trading hours on Friday, hitting $169.93. 18,496 shares of the company’s stock were exchanged, compared to its average volume of 259,506. 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, Inc. has a 12-month low of $78.42 and a 12-month high of $186.47. The firm has a market cap of $4.94 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 1.86 and a beta of 1.45. The firm has a 50 day moving average of $164.57 and a 200 day moving average of $138.92.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, May 22nd. The construction company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.73. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 earnings per share. Analysts predict that Dycom Industries, Inc. will post 7.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DY. Wells Fargo & Company raised their price objective on Dycom Industries from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. UBS Group lifted their price target on shares of Dycom Industries from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. B. Riley upped their price objective on shares of Dycom Industries from $172.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, May 31st. StockNews.com lowered Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. 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 equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $191.71.

Dycom Industries 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.