Vanguard Group Inc. Reduces Position in Dycom Industries, Inc. $DY

Key Points

• Vanguard Group Inc. reduced its holdings in Dycom Industries, Inc. by 1.7%, owning 3,094,718 shares valued at approximately $471 million.
• Dycom Industries reported earnings of $2.09 per share for the last quarter, exceeding analyst expectations by $0.47, with revenues increasing by 10.2% year-over-year.
• Analysts have mixed ratings on Dycom Industries, with a consensus rating of "Moderate Buy" and various price target upgrades, the highest being $295.00 from KeyCorp.

Vanguard Group Inc. decreased its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,094,718 shares of the construction company's stock after selling 52,706 shares during the quarter. Vanguard Group Inc. owned 10.75% of Dycom Industries worth $471,449,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DY. KBC Group NV grew its stake in shares of Dycom Industries by 18.9% during the first quarter. KBC Group NV now owns 1,443 shares of the construction company's stock worth $220,000 after buying an additional 229 shares during the last quarter. SG Americas Securities LLC bought a new position in Dycom Industries in the first quarter valued at about $342,000. Public Employees Retirement System of Ohio increased its stake in shares of Dycom Industries by 105.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the construction company's stock valued at $194,000 after buying an additional 572 shares during the period. J. Goldman & Co LP raised its holdings in Dycom Industries by 25.4% in the 4th quarter. J. Goldman & Co LP now owns 90,253 shares of the construction company's stock valued at $15,709,000 after buying an additional 18,289 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in Dycom Industries by 27.1% during the 1st 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. Institutional investors and hedge funds own 98.33% of the company's stock.

Dycom Industries Stock Up 0.0%

DY stock traded up $0.10 during midday trading on Tuesday, hitting $273.01. The company's stock had a trading volume of 114,991 shares, compared to its average volume of 430,469. The firm's 50-day moving average is $253.79 and its 200-day moving average is $203.38. The company has a current ratio of 2.89, a quick ratio of 2.68 and a debt-to-equity ratio of 0.80. Dycom Industries, Inc. has a 12 month low of $131.37 and a 12 month high of $285.64. The company has a market cap of $7.90 billion, a PE ratio of 34.63, a P/E/G ratio of 1.54 and a beta of 1.34.

Dycom Industries (NYSE:DY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 EPS 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 company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company posted $2.12 earnings per share. Dycom Industries's revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on DY. KeyCorp upped their price target on Dycom Industries from $255.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. UBS Group boosted 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. DA Davidson increased their price target on Dycom Industries from $220.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Raymond James Financial boosted their price objective 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Dycom Industries presently has an average rating of "Moderate Buy" and a consensus price target of $264.63.

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.