Transform Wealth LLC Sells 1,250 Shares of Dycom Industries, Inc. (NYSE:DY)

Transform Wealth LLC reduced its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 45.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,500 shares of the construction company's stock after selling 1,250 shares during the quarter. Transform Wealth LLC's holdings in Dycom Industries were worth $229,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of DY. Assenagon Asset Management S.A. lifted its stake in Dycom Industries by 327.1% in the first quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company's stock worth $60,818,000 after acquiring an additional 305,755 shares during the period. SG Americas Securities LLC bought a new position in Dycom Industries in the 1st quarter worth $342,000. Simplicity Wealth LLC purchased a new stake in shares of Dycom Industries in the 1st quarter worth about $263,000. IMC Chicago LLC purchased a new stake in shares of Dycom Industries in the 1st quarter worth about $1,777,000. Finally, NBC Securities Inc. boosted its stake in shares of Dycom Industries by 70,784.2% during the 1st quarter. NBC Securities Inc. now owns 13,468 shares of the construction company's stock valued at $2,051,000 after purchasing an additional 13,449 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DY has been the subject of several research analyst reports. KeyCorp lowered their price objective on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. increased their target price on Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Raymond James lifted their price target 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. B. Riley increased 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. Finally, DA Davidson boosted their target price on shares of Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $241.25.

Dycom Industries Stock Down 1.2%

Shares of NYSE:DY traded down $2.85 on Friday, hitting $232.69. 295,547 shares of the company traded hands, compared to its average volume of 420,022. The stock has a 50 day simple moving average of $192.46 and a 200-day simple moving average of $179.74. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The company has a market cap of $6.73 billion, a PE ratio of 30.62, a PEG ratio of 1.29 and a beta of 1.32. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $243.38.

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, beating the consensus estimate of $1.62 by $0.47. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.19 billion. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. Dycom Industries's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.12 EPS. As a group, research analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Dycom Industries announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

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.