Dycom Industries, Inc. (NYSE:DY) Stock Position Reduced by New York State Joint Retirement Fund


The New York State Common Retirement Fund reduced its stake in shares of Dycom Industries, Inc. (NYSE:DY – Get Rating) by 0.7% during the first quarter, according to its latest filing with the Securities and Exchange Commission. . The company held 35,766 shares of the construction company after selling 247 shares during the quarter. The New York State Common Retirement Fund held approximately 0.12% of Dycom Industries worth $3,407,000 when it last filed with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also changed their positions in DY. Kestra Advisory Services LLC increased its position in Dycom Industries shares by 5.1% during the first quarter. Kestra Advisory Services LLC now owns 2,582 shares of the construction company valued at $246,000 after purchasing an additional 125 shares during the period. FDx Advisors Inc. increased its stake in Dycom Industries shares by 3.0% during the 1st quarter. FDx Advisors Inc. now owns 4,794 shares of the construction company worth $457,000 after acquiring 139 additional shares in the last quarter. Hilton Capital Management LLC increased its position in Dycom Industries shares by 4.8% in the fourth quarter. Hilton Capital Management LLC now owns 3,316 shares of the construction company worth $311,000 after purchasing an additional 151 shares during the period. Comerica Bank increased its position in Dycom Industries shares by 1.4% in the first quarter. Comerica Bank now owns 14,290 shares of the construction company worth $1,352,000 after purchasing an additional 195 shares during the period. Finally, Campbell Newman Asset Management Inc. increased its position in Dycom Industries by 1.9% during the first quarter. Campbell Newman Asset Management Inc. now owns 12,339 shares of the construction company valued at $1,175,000 after buying 236 additional shares in the last quarter. 92.89% of the shares are currently held by institutional investors and hedge funds.

Analyst upgrades and downgrades

A number of research companies have weighed in on DY recently. TheStreet upgraded Dycom Industries from a ‘c+’ to a ‘b’ rating in a Friday, May 27 research report. DA Davidson raised its price target on Dycom Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a Thursday, May 26 research report. Finally, Wells Fargo & Company reduced its price target on Dycom Industries from $120.00 to $110.00 in a Wednesday, May 11 research report. Seven research analysts rated the stock with a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus Buy rating and an average price target of $118.50.

Dycom Industries Stock up 2.9%

NYSE DY opened at $111.80 on Friday. The company has a current ratio of 3.46, a quick ratio of 3.22 and a debt ratio of 1.08. The stock’s 50-day moving average is $96.89 and its two-hundred-day moving average is $92.43. The company has a market capitalization of $3.30 billion, a price-earnings ratio of 50.59 and a beta of 1.43. Dycom Industries, Inc. has a 1-year low of $64.77 and a 1-year high of $112.14.

Dycom Industries (NYSE:DY – Get Rating) last released quarterly earnings data on Wednesday, May 25. The construction company reported earnings per share of $0.51 for the quarter, beating consensus analyst estimates of $0.11 from $0.40. The company posted revenue of $876.30 million for the quarter, versus a consensus estimate of $779.43 million. Dycom Industries had a return on equity of 8.17% and a net margin of 2.05%. Stock analysts expect Dycom Industries, Inc. to post earnings per share of 3.28 for the current fiscal year.

Profile of Dycom Industries

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Dycom Industries, Inc provides specialized contracting services in the United States. The company offers program management and engineering services; plans and designs fiber optic, copper and coaxial cable systems overhead, underground and buried; and construction, maintenance and installation services, such as fiber optic, copper and coaxial cable placement and splicing to telecommunications providers.

See also

Want to see what other hedge funds hold DY? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Dycom Industries, Inc. (NYSE:DY – Get Rating).

Institutional ownership by quarter for Dycom Industries (NYSE:DY)



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