Teacher Retirement System of Texas Cuts Position in Dycom Industries, Inc. (NYSE:DY)

Teacher Retirement System of Texas lowered its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 33.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 8,993 shares of the construction company's stock after selling 4,574 shares during the period. Teacher Retirement System of Texas' holdings in Dycom Industries were worth $1,370,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc purchased a new position in shares of Dycom Industries during the 1st quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its stake in shares of Dycom Industries by 26.3% during the 4th 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 stake in shares of Dycom Industries by 35.9% during the 4th 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. Anchor Investment Management LLC raised its stake in shares of Dycom Industries by 37.5% during the 4th quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock valued at $64,000 after buying an additional 100 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Dycom Industries by 107.0% during the 4th quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock valued at $67,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DY shares. KeyCorp raised their target price on Dycom Industries from $255.00 to $295.00 and gave the company 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. 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 report on Tuesday, May 27th. DA Davidson lifted their price objective on Dycom Industries from $220.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, B. Riley lifted their price objective on Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $259.00.

Dycom Industries Price Performance

DY traded up $1.95 during trading on Wednesday, reaching $252.58. The company's stock had a trading volume of 283,432 shares, compared to its average volume of 423,658. 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 fifty day simple moving average of $228.78 and a two-hundred day simple moving average of $189.39. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $255.65. The company has a market cap of $7.30 billion, a price-to-earnings ratio of 32.01, a PEG ratio of 1.45 and a beta of 1.32.

Dycom Industries (NYSE:DY - Get Free Report) last released 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. Dycom Industries had a net margin of 4.81% and a return on equity of 20.04%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company posted $2.12 EPS. The business's revenue was up 10.2% on a year-over-year basis. As a group, analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS 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.