Dycom Industries, Inc. (NYSE:DY) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 6.5% during the third quarter, Holdings Channel.com reports. The fund owned 40,163 shares of the construction company’s stock after selling 2,800 shares during the period. New York State Teachers Retirement System’s holdings in Dycom Industries were worth $7,916,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Dycom Industries during the 1st quarter worth about $28,000. Commonwealth Equity Services LLC increased its position in shares of Dycom Industries by 4.2% during the first quarter. Commonwealth Equity Services LLC now owns 4,201 shares of the construction company’s stock worth $603,000 after purchasing an additional 168 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Dycom Industries by 33.1% in the 1st quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company’s stock valued at $4,630,000 after purchasing an additional 8,028 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in Dycom Industries by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 25,676 shares of the construction company’s stock valued at $3,685,000 after purchasing an additional 337 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Dycom Industries during the 1st quarter worth $317,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Price Performance

Dycom Industries stock opened at $175.94 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.44. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The company’s 50 day simple moving average is $186.29 and its 200-day simple moving average is $174.82. Dycom Industries, Inc. has a 1 year low of $80.65 and a 1 year high of $207.20.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business earned $2.03 EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts expect that Dycom Industries, Inc. will post 8.02 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. 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 research note on Thursday, August 22nd. KeyCorp lifted their price objective on Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company upped their target price on Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Bank of America lifted their price target on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $203.43.

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.