California Public Employees Retirement System grew its stake in Dycom Industries, Inc. (NYSE:DY) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,546 shares of the construction company’s stock after acquiring an additional 1,009 shares during the quarter. California Public Employees Retirement System owned about 0.21% of Dycom Industries worth $7,192,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in Dycom Industries by 12.2% during the 3rd quarter. Wells Fargo & Company MN now owns 783,436 shares of the construction company’s stock valued at $67,282,000 after purchasing an additional 85,079 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Dycom Industries by 12.2% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 330,772 shares of the construction company’s stock valued at $28,406,000 after buying an additional 36,034 shares during the period. Scout Investments Inc. lifted its holdings in shares of Dycom Industries by 0.6% in the 3rd quarter. Scout Investments Inc. now owns 289,848 shares of the construction company’s stock valued at $24,892,000 after buying an additional 1,741 shares during the period. American Century Companies Inc. lifted its holdings in shares of Dycom Industries by 50.4% in the 3rd quarter. American Century Companies Inc. now owns 270,572 shares of the construction company’s stock valued at $23,237,000 after buying an additional 90,723 shares during the period. Finally, Elk Creek Partners LLC raised its holdings in Dycom Industries by 1.9% in the 3rd quarter. Elk Creek Partners LLC now owns 217,945 shares of the construction company’s stock worth $18,717,000 after purchasing an additional 3,959 shares during the period.
Shares of Dycom Industries, Inc. (NYSE DY) traded down $1.13 during mid-day trading on Wednesday, hitting $113.65. The company’s stock had a trading volume of 130,511 shares, compared to its average volume of 515,800. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.86 and a current ratio of 3.16. Dycom Industries, Inc. has a 12 month low of $73.95 and a 12 month high of $123.99. The stock has a market capitalization of $3,517.38, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 1.60 and a beta of 1.39.
Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. Dycom Industries had a return on equity of 18.67% and a net margin of 5.08%. The firm had revenue of $655.13 million for the quarter, compared to analyst estimates of $655.72 million. During the same quarter last year, the company posted $0.82 earnings per share. The business’s revenue was down 6.6% on a year-over-year basis. research analysts forecast that Dycom Industries, Inc. will post 5.72 EPS for the current fiscal year.
In related news, Director Patricia Higgins sold 2,604 shares of Dycom Industries stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $109.08, for a total transaction of $284,044.32. Following the completion of the transaction, the director now directly owns 30,246 shares in the company, valued at approximately $3,299,233.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.35% of the company’s stock.
A number of equities analysts recently weighed in on the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $125.00 price target (up previously from $110.00) on shares of Dycom Industries in a report on Tuesday, February 13th. B. Riley cut their price objective on Dycom Industries from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. Craig Hallum restated a “buy” rating and issued a $129.00 price target (up from $114.00) on shares of Dycom Industries in a research report on Tuesday, February 13th. Zacks Investment Research upgraded Dycom Industries from a “sell” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, DA Davidson increased their price objective on Dycom Industries to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. Dycom Industries currently has a consensus rating of “Buy” and an average price target of $122.00.
About Dycom Industries
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
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