Texas Permanent School Fund Corp Sells 3,718 Shares of Dycom Industries, Inc. (NYSE:DY)

Texas Permanent School Fund Corp lowered its position in Dycom Industries, Inc. (NYSE:DY) by 14.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,958 shares of the construction company’s stock after selling 3,718 shares during the period. Texas Permanent School Fund Corp’s holdings in Dycom Industries were worth $3,706,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Somerset Trust Co grew its stake in shares of Dycom Industries by 1.6% in the 2nd quarter. Somerset Trust Co now owns 4,448 shares of the construction company’s stock worth $751,000 after buying an additional 68 shares during the last quarter. Thompson Davis & CO. Inc. grew its stake in shares of Dycom Industries by 2.9% in the 1st quarter. Thompson Davis & CO. Inc. now owns 2,675 shares of the construction company’s stock worth $384,000 after buying an additional 75 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Dycom Industries by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 8,145 shares of the construction company’s stock worth $1,375,000 after buying an additional 82 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Dycom Industries by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the construction company’s stock worth $2,464,000 after buying an additional 100 shares during the last quarter. Finally, First Bank & Trust grew its stake in shares of Dycom Industries by 5.7% in the 1st quarter. First Bank & Trust now owns 2,013 shares of the construction company’s stock worth $289,000 after buying an additional 108 shares during the last quarter. Institutional investors own 98.33% of the company’s stock.

Insider Buying and Selling

In related 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 value of $149,354.88. Following the transaction, the vice president now directly owns 6,937 shares of the company’s stock, valued at approximately $1,210,367.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DY shares. Craig Hallum upped their price target on Dycom Industries from $145.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. UBS Group upped their price target on Dycom Industries from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Wells Fargo & Company upped their price target on Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, KeyCorp increased their target price on Dycom Industries from $195.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One investment 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. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $199.57.

Dycom Industries Stock Performance

DY stock opened at $184.74 on Friday. The company has a market cap of $5.38 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. Dycom Industries, Inc. has a 1 year low of $78.42 and a 1 year high of $196.34. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25. The stock’s fifty day moving average price is $178.40 and its 200-day moving average price is $161.50.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.20. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the business posted $2.03 EPS. On average, equities analysts forecast that Dycom Industries, Inc. will post 8.02 earnings per share for the current year.

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.