Natixis Advisors LLC Sells 3,104 Shares of Dycom Industries, Inc. (NYSE:DY)

Key Points

• Natixis Advisors LLC reduced its holdings in Dycom Industries by 14.6%, selling 3,104 shares and now owning approximately 18,181 shares valued at $2.77 million.
• Multiple institutional investors increased their stakes in Dycom, with Federated Hermes raising its holdings by 27.1%, while Mackenzie Financial Corp boosted its stake by 42.6% during the first quarter.
• Recent analyst ratings have been positive, with Raymond James boosting the target price from $215 to $255 and a consensus rating of "Buy" with an average target price of $259.

Natixis Advisors LLC lessened its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 14.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,181 shares of the construction company's stock after selling 3,104 shares during the quarter. Natixis Advisors LLC owned approximately 0.06% of Dycom Industries worth $2,770,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in Dycom Industries by 27.1% in the first quarter. Federated Hermes Inc. now owns 492 shares of the construction company's stock worth $75,000 after buying an additional 105 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Dycom Industries by 42.6% in the 1st quarter. Mackenzie Financial Corp now owns 2,568 shares of the construction company's stock valued at $391,000 after purchasing an additional 767 shares during the period. LPL Financial LLC boosted its position in shares of Dycom Industries by 6.8% during the first quarter. LPL Financial LLC now owns 10,798 shares of the construction company's stock valued at $1,645,000 after purchasing an additional 685 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Dycom Industries in the first quarter worth $387,000. Finally, Avantax Advisory Services Inc. raised its holdings in Dycom Industries by 15.7% in the first quarter. Avantax Advisory Services Inc. now owns 2,109 shares of the construction company's stock worth $321,000 after purchasing an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on DY shares. Raymond James Financial boosted their target price on shares of Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a report on Thursday, May 22nd. KeyCorp boosted their price objective on shares of Dycom Industries from $255.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. DA Davidson raised their target price on shares of Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. UBS Group lifted their target price on shares of Dycom Industries from $258.00 to $288.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Finally, Wells Fargo & Company upped their price target on Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Dycom Industries currently has an average rating of "Buy" and a consensus price target of $259.00.

Dycom Industries Stock Up 0.9%

NYSE DY traded up $2.60 during mid-day trading on Friday, reaching $279.03. The stock had a trading volume of 273,436 shares, compared to its average volume of 243,803. The stock has a market cap of $8.07 billion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 1.59 and a beta of 1.34. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $279.41. 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 company has a fifty day moving average price of $249.42 and a 200 day moving average price of $199.64.

Dycom Industries (NYSE:DY - Get Free Report) last posted its quarterly earnings results 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. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the business earned $2.12 earnings per share. The company's revenue was up 10.2% on a year-over-year basis. On average, research analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current 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.