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

Bank of New York Mellon Corp cut its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 190,727 shares of the construction company's stock after selling 9,891 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.66% of Dycom Industries worth $29,055,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DY. Corient Private Wealth LLC raised its holdings in shares of Dycom Industries by 0.8% in the fourth quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company's stock valued at $1,221,000 after buying an additional 55 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock valued at $59,000 after buying an additional 71 shares during the last quarter. GeoWealth Management LLC raised its holdings in shares of Dycom Industries by 35.9% in the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock valued at $61,000 after buying an additional 92 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Dycom Industries by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,972 shares of the construction company's stock valued at $517,000 after buying an additional 94 shares during the last quarter. Finally, Anchor Investment Management LLC increased its position in Dycom Industries by 37.5% in the fourth quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock worth $64,000 after purchasing an additional 100 shares during the period. 98.33% of the stock is owned by institutional investors.

Dycom Industries Trading Up 0.1%

Shares of Dycom Industries stock traded up $0.20 during trading on Friday, hitting $256.55. 287,023 shares of the company were exchanged, compared to its average volume of 423,828. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $257.93. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.89 and a quick ratio of 2.68. The firm has a market capitalization of $7.42 billion, a P/E ratio of 32.52, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32. The firm's fifty day moving average price is $231.57 and its 200 day moving average price is $190.39.

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, beating the consensus estimate of $1.62 by $0.47. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The business had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the business posted $2.12 EPS. Dycom Industries's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DY. Raymond James Financial lifted their price objective on Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 22nd. Wells Fargo & Company lifted their price objective on Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. KeyCorp lifted their price objective on Dycom Industries from $255.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wall Street Zen upgraded Dycom Industries from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, JPMorgan Chase & Co. lifted their price objective on Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Dycom Industries has a consensus rating of "Buy" and an average target price of $259.00.

Dycom Industries 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.