Bank of New York Mellon Corp Sells 9,891 Shares of Dycom Industries, Inc. (NYSE:DY)

Bank of New York Mellon Corp lowered its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 190,727 shares of the construction company's stock after selling 9,891 shares during the period. Bank of New York Mellon Corp owned about 0.66% of Dycom Industries worth $29,055,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Peregrine Capital Management LLC lifted its position in shares of Dycom Industries by 3.3% during the 1st quarter. Peregrine Capital Management LLC now owns 57,082 shares of the construction company's stock valued at $8,696,000 after acquiring an additional 1,846 shares during the period. KBC Group NV lifted its position in shares of Dycom Industries by 18.9% during the 1st quarter. KBC Group NV now owns 1,443 shares of the construction company's stock valued at $220,000 after acquiring an additional 229 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of Dycom Industries by 2.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 16,106 shares of the construction company's stock valued at $2,454,000 after acquiring an additional 458 shares during the period. Harbour Capital Advisors LLC lifted its position in shares of Dycom Industries by 57.3% during the 1st quarter. Harbour Capital Advisors LLC now owns 6,725 shares of the construction company's stock valued at $995,000 after acquiring an additional 2,450 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Dycom Industries by 327.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company's stock valued at $60,818,000 after acquiring an additional 305,755 shares during the period. Institutional investors and hedge funds own 98.33% of the company's stock.

Dycom Industries Stock Up 0.1%

Shares of Dycom Industries stock traded up $0.20 during trading on Friday, reaching $256.55. The company had a trading volume of 287,024 shares, compared to its average volume of 424,034. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 1.46 and a beta of 1.32. The firm's fifty day moving average is $232.92 and its 200-day moving average is $191.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.68 and a current ratio of 2.89. Dycom Industries, Inc. has a fifty-two week low of $131.37 and a fifty-two week high of $258.02.

Dycom Industries (NYSE:DY - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.47. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. Dycom Industries had a net margin of 4.81% and a return on equity of 20.04%. Dycom Industries's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.12 earnings per share. On average, analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. UBS Group boosted their price objective on shares of Dycom Industries from $258.00 to $288.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. B. Riley boosted their price objective on shares of Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Raymond James Financial boosted their price objective on shares of Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 22nd. Wall Street Zen raised shares of Dycom Industries from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, KeyCorp boosted their price objective on shares of Dycom Industries from $255.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $259.00.

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.