Louisiana State Employees Retirement System bought a new stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 14,700 shares of the construction company's stock, valued at approximately $1,692,000. Louisiana State Employees Retirement System owned about 0.05% of Dycom Industries at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in Dycom Industries by 40.1% during the 1st quarter. BlackRock Inc. now owns 4,639,633 shares of the construction company's stock worth $434,502,000 after acquiring an additional 1,327,595 shares during the last quarter. Millennium Management LLC lifted its stake in Dycom Industries by 149.4% in the fourth quarter. Millennium Management LLC now owns 883,489 shares of the construction company's stock valued at $82,695,000 after buying an additional 529,178 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Dycom Industries by 43.5% in the fourth quarter. Alliancebernstein L.P. now owns 1,728,780 shares of the construction company's stock valued at $161,814,000 after buying an additional 524,292 shares in the last quarter. Norges Bank bought a new position in Dycom Industries in the fourth quarter valued at approximately $31,646,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Dycom Industries in the fourth quarter valued at approximately $15,821,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, VP Jason T. Lawson sold 220 shares of the business's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $140.27, for a total value of $30,859.40. Following the completion of the sale, the vice president now owns 7,793 shares of the company's stock, valued at $1,093,124.11. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.25% of the stock is currently owned by company insiders.
Dycom Industries Stock Performance
Shares of NYSE:DY traded up $0.85 on Friday, hitting $135.56. The company had a trading volume of 169,004 shares, compared to its average volume of 199,973. Dycom Industries, Inc. has a 1-year low of $78.42 and a 1-year high of $146.32. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 0.79 and a beta of 1.38. The stock has a 50 day moving average price of $133.32 and a 200 day moving average price of $112.60. The company has a current ratio of 3.06, a quick ratio of 2.85 and a debt-to-equity ratio of 0.75.
Dycom Industries (NYSE:DY - Get Free Report) last announced its earnings results on Wednesday, February 28th. The construction company reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.94 by ($0.15). The business had revenue of $952.50 million during the quarter, compared to the consensus estimate of $968.87 million. Dycom Industries had a net margin of 5.24% and a return on equity of 22.06%. The company's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 EPS. Analysts expect that Dycom Industries, Inc. will post 7.13 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on DY. KeyCorp boosted their target price on shares of Dycom Industries from $136.00 to $149.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. B. Riley upgraded shares of Dycom Industries from a "neutral" rating to a "buy" rating and upped their price objective for the company from $101.00 to $172.00 in a report on Friday, March 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $135.50.
Check Out Our Latest Report on DY
Dycom Industries Company Profile
(
Free Report)
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.
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