Bank of New York Mellon Corp raised its holdings in shares of Dycom Industries, Inc. (NYSE:DY – Get Rating) by 0.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 625,040 shares of the construction company's stock after purchasing an additional 1,078 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.11% of Dycom Industries worth $59,541,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Alliancebernstein L.P. increased its position in Dycom Industries by 1,195.0% during the 4th quarter. Alliancebernstein L.P. now owns 2,100,234 shares of the construction company's stock worth $196,918,000 after buying an additional 1,938,052 shares during the period. Principal Financial Group Inc. increased its position in Dycom Industries by 9.3% during the 1st quarter. Principal Financial Group Inc. now owns 846,628 shares of the construction company's stock worth $80,650,000 after buying an additional 71,885 shares during the period. Geode Capital Management LLC increased its position in Dycom Industries by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 522,014 shares of the construction company's stock worth $48,944,000 after buying an additional 16,361 shares during the period. Sei Investments Co. increased its position in Dycom Industries by 3.0% during the 4th quarter. Sei Investments Co. now owns 240,381 shares of the construction company's stock worth $22,538,000 after buying an additional 7,103 shares during the period. Finally, Granite Investment Partners LLC bought a new position in Dycom Industries during the 4th quarter worth $20,640,000. Institutional investors and hedge funds own 93.32% of the company's stock.
Get Dycom Industries alerts:Dycom Industries Stock Performance
NYSE:DY opened at $109.98 on Friday. The stock's 50-day simple moving average is $102.53 and its 200 day simple moving average is $94.82. The firm has a market capitalization of $3.24 billion, a PE ratio of 35.71 and a beta of 1.43. The company has a quick ratio of 3.09, a current ratio of 3.32 and a debt-to-equity ratio of 1.02. Dycom Industries, Inc. has a twelve month low of $64.77 and a twelve month high of $120.45.
Dycom Industries (NYSE:DY – Get Rating) last released its quarterly earnings data on Wednesday, August 24th. The construction company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.47. The business had revenue of $972.30 million for the quarter, compared to analyst estimates of $932.37 million. Dycom Industries had a return on equity of 11.38% and a net margin of 2.68%. Dycom Industries's revenue was up 23.5% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. On average, analysts anticipate that Dycom Industries, Inc. will post 3.56 EPS for the current fiscal year.Analyst Upgrades and Downgrades
Several research firms have weighed in on DY. DA Davidson increased their price objective on Dycom Industries from $125.00 to $145.00 in a research report on Thursday, August 25th. Craig Hallum raised their price target on Dycom Industries from $121.00 to $133.00 in a research report on Thursday, August 25th. TheStreet upgraded Dycom Industries from a "c+" rating to a "b" rating in a research report on Friday, May 27th. Wells Fargo & Company decreased their price target on Dycom Industries from $120.00 to $110.00 in a research report on Wednesday, May 11th. Finally, KeyCorp raised their price target on Dycom Industries from $115.00 to $130.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 23rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $126.33.
Insider Activity at Dycom Industries
In other news, CEO Steven E. Nielsen sold 69,062 shares of Dycom Industries stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $112.75, for a total transaction of $7,786,740.50. Following the sale, the chief executive officer now directly owns 688,778 shares of the company's stock, valued at $77,659,719.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Steven E. Nielsen sold 69,062 shares of Dycom Industries stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $112.75, for a total transaction of $7,786,740.50. Following the sale, the chief executive officer now directly owns 688,778 shares of the company's stock, valued at $77,659,719.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven E. Nielsen sold 18,611 shares of Dycom Industries stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $113.60, for a total value of $2,114,209.60. Following the sale, the chief executive officer now directly owns 689,719 shares in the company, valued at $78,352,078.40. The disclosure for this sale can be found here. 4.32% of the stock is currently owned by insiders.
Dycom Industries Company Profile
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Dycom Industries, Inc provides specialty contracting services in the United States. The company offers program management and engineering services; plans and designs aerial, underground, and buried fiber optic, copper, and coaxial cable systems; and construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.
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