Braun Stacey Associates Inc. Sells 58,264 Shares of Dycom Industries, Inc. (NYSE:DY)

Braun Stacey Associates Inc. cut its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 95.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,827 shares of the construction company's stock after selling 58,264 shares during the quarter. Braun Stacey Associates Inc.'s holdings in Dycom Industries were worth $431,000 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. Versant Capital Management Inc bought a new position in shares of Dycom Industries during the first quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Dycom Industries by 26.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock valued at $59,000 after acquiring an additional 71 shares during the period. GeoWealth Management LLC lifted its holdings in shares of Dycom Industries by 35.9% during the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock valued at $61,000 after acquiring an additional 92 shares during the period. Anchor Investment Management LLC lifted its holdings in shares of Dycom Industries by 37.5% during the fourth quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock valued at $64,000 after acquiring an additional 100 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Dycom Industries by 107.0% during the fourth quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock valued at $67,000 after acquiring an additional 200 shares during the period. 98.33% of the stock is owned by institutional investors.

Dycom Industries Trading Up 1.3%

DY stock traded up $3.17 during midday trading on Friday, reaching $250.36. The stock had a trading volume of 209,370 shares, compared to its average volume of 423,735. The business has a fifty day simple moving average of $217.99 and a two-hundred day simple moving average of $185.76. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.80. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 1.43 and a beta of 1.32. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $251.73.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on DY shares. Wall Street Zen raised Dycom Industries from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Wells Fargo & Company raised their target price on Dycom Industries from $215.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. JPMorgan Chase & Co. raised their target price on Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. B. Riley raised their target price on Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Raymond James Financial raised their target price on Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 22nd. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Dycom Industries has an average rating of "Buy" and an average price target of $241.25.

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.