Maryland State Retirement & Pension System Sells 140 Shares of Dycom Industries, Inc. (NYSE:DY)

Maryland State Retirement & Pension System lowered its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,661 shares of the construction company’s stock after selling 140 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Dycom Industries were worth $1,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in DY. Allspring Global Investments Holdings LLC lifted its holdings in shares of Dycom Industries by 15.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 974 shares of the construction company’s stock valued at $87,000 after purchasing an additional 132 shares during the last quarter. Strs Ohio grew its stake in shares of Dycom Industries by 50.0% during the fourth quarter. Strs Ohio now owns 1,500 shares of the construction company’s stock worth $172,000 after acquiring an additional 500 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Dycom Industries during the fourth quarter valued at about $207,000. First Bank & Trust purchased a new position in shares of Dycom Industries in the 4th quarter valued at approximately $219,000. Finally, Assetmark Inc. lifted its stake in shares of Dycom Industries by 20.0% during the third quarter. Assetmark Inc. now owns 2,510 shares of the construction company’s stock worth $223,000 after buying an additional 418 shares during the period. Institutional investors own 98.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. B. Riley raised shares of Dycom Industries from a “neutral” rating to a “buy” rating and raised their target price for the stock from $101.00 to $172.00 in a report on Friday, March 8th. KeyCorp lifted their price objective on Dycom Industries from $136.00 to $149.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $135.50.

Insiders Place Their Bets

In other Dycom Industries news, VP Jason T. Lawson sold 220 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $140.27, for a total value of $30,859.40. Following the transaction, the vice president now owns 7,793 shares of the company’s stock, valued at $1,093,124.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.28% of the stock is owned by insiders.

Dycom Industries Trading Up 0.6 %

DY opened at $148.21 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.06 and a quick ratio of 2.85. The company’s 50 day simple moving average is $139.59 and its two-hundred day simple moving average is $117.83. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 1.88 and a beta of 1.37. Dycom Industries, Inc. has a 1-year low of $78.42 and a 1-year high of $148.87.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.15). Dycom Industries had a return on equity of 22.06% and a net margin of 5.24%. The company had revenue of $952.50 million for the quarter, compared to analysts’ expectations of $968.87 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts expect that Dycom Industries, Inc. will post 7.14 EPS for the current fiscal year.

About Dycom Industries

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.