SG Americas Securities LLC Reduces Position in Dycom Industries, Inc. (NYSE:DY)

SG Americas Securities LLC cut its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 83.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,031 shares of the construction company's stock after selling 10,329 shares during the period. SG Americas Securities LLC's holdings in Dycom Industries were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in shares of Dycom Industries by 15.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 974 shares of the construction company's stock worth $87,000 after acquiring an additional 132 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Dycom Industries by 0.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 17,268 shares of the construction company's stock valued at $1,607,000 after buying an additional 148 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Dycom Industries by 2.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,082 shares of the construction company's stock valued at $659,000 after buying an additional 168 shares during the period. Howe & Rusling Inc. grew its stake in shares of Dycom Industries by 4.5% in the 4th quarter. Howe & Rusling Inc. now owns 4,004 shares of the construction company's stock valued at $375,000 after buying an additional 174 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in shares of Dycom Industries by 6.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 3,279 shares of the construction company's stock valued at $373,000 after buying an additional 199 shares during the period. 98.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Dycom Industries news, VP Jason T. Lawson sold 220 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $140.27, for a total transaction of $30,859.40. Following the sale, the vice president now owns 7,793 shares of the company's stock, valued at approximately $1,093,124.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DY has been the subject of several research reports. KeyCorp raised their target price on Dycom Industries from $136.00 to $149.00 and gave the company an "overweight" rating in a research note on Thursday, February 29th. B. Riley upgraded Dycom Industries from a "neutral" rating to a "buy" rating and lifted their price target for the company from $101.00 to $172.00 in a research note on Friday, March 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Dycom Industries has an average rating of "Buy" and an average target price of $135.50.

Dycom Industries Stock Performance

Shares of NYSE DY traded down $0.95 during midday trading on Friday, reaching $137.78. The company's stock had a trading volume of 205,787 shares, compared to its average volume of 260,610. Dycom Industries, Inc. has a 12-month low of $78.42 and a 12-month high of $146.32. The firm has a 50 day moving average price of $131.33 and a 200-day moving average price of $110.81. The stock has a market capitalization of $4.01 billion, a P/E ratio of 18.69, a PEG ratio of 0.81 and a beta of 1.38. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.06 and a quick ratio of 2.85.

Dycom Industries (NYSE:DY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.94 by ($0.15). The company had revenue of $952.50 million during the quarter, compared to the consensus estimate of $968.87 million. Dycom Industries had a return on equity of 22.06% and a net margin of 5.24%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.83 EPS. As a group, equities analysts predict that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Dycom Industries 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.