Retirement Systems of Alabama lifted its position in shares of Dycom Industries, Inc. (NYSE:DY) by 0.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 40,928 shares of the construction company’s stock after acquiring an additional 350 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Dycom Industries worth $1,880,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. First Personal Financial Services bought a new stake in shares of Dycom Industries during the fourth quarter valued at approximately $41,000. NumerixS Investment Technologies Inc bought a new stake in Dycom Industries in the fourth quarter worth $77,000. Public Employees Retirement System of Ohio boosted its holdings in Dycom Industries by 24.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,476 shares of the construction company’s stock worth $80,000 after acquiring an additional 288 shares in the last quarter. Bank of Montreal Can boosted its holdings in Dycom Industries by 17.1% in the fourth quarter. Bank of Montreal Can now owns 1,686 shares of the construction company’s stock worth $91,000 after acquiring an additional 246 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new stake in Dycom Industries in the third quarter worth $104,000. Institutional investors own 92.65% of the company’s stock.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut Dycom Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. ValuEngine cut Dycom Industries from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. B. Riley upgraded Dycom Industries from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $84.00 to $60.00 in a research report on Wednesday, February 27th. Canaccord Genuity reduced their price objective on Dycom Industries from $84.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, February 28th. They noted that the move was a valuation call. Finally, Craig Hallum reduced their price objective on Dycom Industries from $75.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Dycom Industries presently has an average rating of “Buy” and an average target price of $72.50.
NYSE:DY traded down $2.65 during mid-day trading on Wednesday, hitting $54.40. 1,278,446 shares of the company traded hands, compared to its average volume of 553,907. Dycom Industries, Inc. has a one year low of $41.78 and a one year high of $100.76. The company has a debt-to-equity ratio of 1.08, a quick ratio of 3.52 and a current ratio of 3.85. The firm has a market capitalization of $1.46 billion, a PE ratio of 19.57, a P/E/G ratio of 2.82 and a beta of 1.45.
Dycom Industries (NYSE:DY) last released its quarterly earnings results on Tuesday, May 21st. The construction company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.10. Dycom Industries had a return on equity of 11.24% and a net margin of 2.01%. The business had revenue of $883.70 million during the quarter, compared to analyst estimates of $771.90 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. Dycom Industries’s revenue for the quarter was up 20.8% on a year-over-year basis. Equities analysts forecast that Dycom Industries, Inc. will post 2.55 earnings per share for the current fiscal year.
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Dycom Industries Company Profile
Dycom Industries, Inc provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.
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