Truist Financial Corp Reduces Position in Dycom Industries, Inc. (NYSE:DY)

Truist Financial Corp cut its position in Dycom Industries, Inc. (NYSE:DYGet Rating) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,250 shares of the construction company’s stock after selling 429 shares during the period. Truist Financial Corp’s holdings in Dycom Industries were worth $597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its position in Dycom Industries by 50.9% in the second quarter. First Horizon Advisors Inc. now owns 335 shares of the construction company’s stock valued at $30,000 after acquiring an additional 113 shares during the last quarter. USA Financial Portformulas Corp purchased a new stake in shares of Dycom Industries in the 3rd quarter valued at about $30,000. Assetmark Inc. lifted its holdings in shares of Dycom Industries by 142.0% in the 2nd quarter. Assetmark Inc. now owns 714 shares of the construction company’s stock valued at $66,000 after purchasing an additional 419 shares during the last quarter. Strs Ohio lifted its holdings in shares of Dycom Industries by 33.3% in the 2nd quarter. Strs Ohio now owns 800 shares of the construction company’s stock valued at $74,000 after purchasing an additional 200 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC lifted its holdings in shares of Dycom Industries by 59.8% in the 2nd quarter. Counterpoint Mutual Funds LLC now owns 1,448 shares of the construction company’s stock valued at $135,000 after purchasing an additional 542 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DY has been the subject of several research reports. StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Monday, November 28th. UBS Group set a $124.00 target price on Dycom Industries in a report on Thursday, November 24th. Craig Hallum set a $110.00 target price on Dycom Industries in a report on Thursday, November 24th. Finally, Wells Fargo & Company reduced their price objective on Dycom Industries from $130.00 to $120.00 and set an “overweight” rating for the company 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

Dycom Industries Stock Performance

NYSE DY opened at $98.31 on Monday. The company has a current ratio of 3.21, a quick ratio of 2.98 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $94.04 and its two-hundred day moving average is $102.14. Dycom Industries, Inc. has a 12-month low of $76.21 and a 12-month high of $122.13. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 24.95 and a beta of 1.29.

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

Insiders Place Their Bets

In other news, Director Richard K. Sykes sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $92.35, for a total transaction of $184,700.00. Following the completion of the sale, the director now owns 17,854 shares in the company, valued at approximately $1,648,816.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.32% of the company’s stock.

Dycom Industries Company Profile

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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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