Comerica Bank Has $1.52 Million Holdings in Dycom Industries, Inc. (NYSE:DY)

Comerica Bank lessened its stake in Dycom Industries, Inc. (NYSE:DYGet Rating) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,330 shares of the construction company’s stock after selling 240 shares during the quarter. Comerica Bank’s holdings in Dycom Industries were worth $1,520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DY. JPMorgan Chase & Co. boosted its stake in shares of Dycom Industries by 6.4% in the 1st quarter. JPMorgan Chase & Co. now owns 49,555 shares of the construction company’s stock valued at $4,721,000 after purchasing an additional 2,993 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Dycom Industries by 86.3% in the 1st quarter. Raymond James & Associates now owns 7,429 shares of the construction company’s stock valued at $708,000 after purchasing an additional 3,441 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Dycom Industries by 40.0% in the 1st quarter. MetLife Investment Management LLC now owns 34,082 shares of the construction company’s stock valued at $3,247,000 after purchasing an additional 9,731 shares during the last quarter. Panagora Asset Management Inc. bought a new position in shares of Dycom Industries in the 1st quarter valued at about $210,000. Finally, Rhumbline Advisers boosted its stake in shares of Dycom Industries by 1.3% in the 1st quarter. Rhumbline Advisers now owns 87,563 shares of the construction company’s stock valued at $8,341,000 after purchasing an additional 1,159 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Dycom Industries Stock Performance

Shares of DY opened at $98.31 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.98 and a current ratio of 3.21. Dycom Industries, Inc. has a twelve month low of $76.21 and a twelve month high of $122.13. The firm’s 50 day moving average price is $94.04 and its two-hundred day moving average price is $102.14. The firm has a market cap of $2.90 billion, a P/E ratio of 24.95 and a beta of 1.29.

Dycom Industries (NYSE:DYGet Rating) last announced its quarterly earnings results on Tuesday, November 22nd. The construction company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.41. Dycom Industries had a net margin of 3.24% and a return on equity of 13.96%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $974.11 million. On average, analysts forecast that Dycom Industries, Inc. will post 4.09 EPS for the current fiscal year.

Insider Buying and Selling at Dycom Industries

In other news, Director Richard K. Sykes sold 2,000 shares of Dycom Industries stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $92.35, for a total value of $184,700.00. Following the sale, the director now directly owns 17,854 shares in the company, valued at $1,648,816.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.32% of the company’s stock.

Analyst Upgrades and Downgrades

DY has been the topic of several recent analyst reports. StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Monday, November 28th. UBS Group set a $124.00 price objective on shares of Dycom Industries in a research note on Thursday, November 24th. Craig Hallum set a $110.00 price objective on shares of Dycom Industries in a research note on Thursday, November 24th. Finally, Wells Fargo & Company reduced their price objective on shares of Dycom Industries from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, November 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Dycom Industries has an average rating of “Moderate Buy” and an average target price of $124.00.

About Dycom Industries

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

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Institutional Ownership by Quarter for Dycom Industries (NYSE:DY)

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