Dana Investment Advisors Inc. Decreases Position in Dycom Industries, Inc. (NYSE:DY)

Dana Investment Advisors Inc. trimmed its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 23.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,483 shares of the construction company’s stock after selling 24,049 shares during the quarter. Dana Investment Advisors Inc. owned 0.27% of Dycom Industries worth $13,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peconic Partners LLC boosted its holdings in Dycom Industries by 0.7% in the fourth quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock worth $375,847,000 after acquiring an additional 21,635 shares in the last quarter. Vanguard Group Inc. boosted its stake in Dycom Industries by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock worth $458,728,000 after purchasing an additional 12,395 shares in the last quarter. Millennium Management LLC grew its position in Dycom Industries by 6.3% during the 2nd quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock worth $275,324,000 after purchasing an additional 96,846 shares during the last quarter. First Trust Advisors LP increased its stake in Dycom Industries by 36.3% during the 4th quarter. First Trust Advisors LP now owns 271,782 shares of the construction company’s stock valued at $31,279,000 after purchasing an additional 72,415 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Dycom Industries by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 230,216 shares of the construction company’s stock valued at $38,851,000 after purchasing an additional 971 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Jason T. Lawson sold 856 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $174.48, for a total transaction of $149,354.88. Following the transaction, the vice president now owns 6,937 shares in the company, valued at approximately $1,210,367.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.28% of the stock is currently owned by insiders.

Dycom Industries Trading Up 2.2 %

Dycom Industries stock opened at $197.10 on Tuesday. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The firm has a market cap of $5.73 billion, a PE ratio of 25.40, a P/E/G ratio of 2.09 and a beta of 1.41. The stock’s 50 day simple moving average is $182.32 and its two-hundred day simple moving average is $166.49. Dycom Industries, Inc. has a 12 month low of $78.42 and a 12 month high of $199.77.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. B. Riley boosted their price objective on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Bank of America boosted their price target on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. KeyCorp raised their price objective on Dycom Industries from $195.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. 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 research report on Wednesday, July 17th. Finally, StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $199.57.

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.