Principal Financial Group Inc. Sells 21,082 Shares of Dycom Industries, Inc. (NYSE:DY)

Principal Financial Group Inc. cut its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 3.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 609,410 shares of the construction company's stock after selling 21,082 shares during the quarter. Principal Financial Group Inc. owned approximately 2.12% of Dycom Industries worth $92,838,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc bought a new position in Dycom Industries in the first quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 71 shares during the last quarter. GeoWealth Management LLC raised its position in 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 purchasing an additional 92 shares during the last quarter. Anchor Investment Management LLC raised 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 valued at $64,000 after purchasing an additional 100 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in Dycom Industries by 107.0% in the fourth quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock valued at $67,000 after purchasing an additional 200 shares during the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DY has been the subject of several research reports. Raymond James Financial increased their target price on Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 22nd. KeyCorp lowered their price objective on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. DA Davidson raised their price objective on Dycom Industries from $220.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. raised 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. Finally, B. Riley raised their price objective on Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $241.25.

Dycom Industries Trading Down 1.0%

Shares of DY traded down $2.63 during mid-day trading on Tuesday, reaching $249.50. 340,993 shares of the company were exchanged, compared to its average volume of 424,100. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $255.42. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.68 and a current ratio of 2.89. The stock has a market capitalization of $7.22 billion, a PE ratio of 31.62, a PEG ratio of 1.44 and a beta of 1.32. The business has a 50 day simple moving average of $221.34 and a two-hundred day simple moving average of $186.75.

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

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.