Arizona State Retirement System Sells 148 Shares of Dycom Industries, Inc. (NYSE:DY)

Arizona State Retirement System trimmed its position in Dycom Industries, Inc. (NYSE:DY) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,201 shares of the construction company’s stock after selling 148 shares during the quarter. Arizona State Retirement System’s holdings in Dycom Industries were worth $944,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its stake in shares of Dycom Industries by 114.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 490 shares of the construction company’s stock worth $45,000 after buying an additional 261 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Dycom Industries by 15.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 974 shares of the construction company’s stock worth $87,000 after buying an additional 132 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Dycom Industries by 43.5% during the second quarter. Tower Research Capital LLC TRC now owns 996 shares of the construction company’s stock worth $113,000 after buying an additional 302 shares during the last quarter. SkyView Investment Advisors LLC bought a new stake in shares of Dycom Industries during the first quarter worth $173,000. Finally, Captrust Financial Advisors grew its stake in shares of Dycom Industries by 61.8% during the first quarter. Captrust Financial Advisors now owns 1,974 shares of the construction company’s stock worth $188,000 after buying an additional 754 shares during the last quarter. 98.33% of the stock is owned by institutional investors.

Dycom Industries Price Performance

DY stock opened at $135.32 on Wednesday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 0.81 and a beta of 1.38. The company has a quick ratio of 2.85, a current ratio of 3.06 and a debt-to-equity ratio of 0.75. Dycom Industries, Inc. has a 12-month low of $78.42 and a 12-month high of $146.32. The company’s fifty day simple moving average is $132.20 and its 200 day simple moving average is $111.76.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, February 28th. The construction company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.15). Dycom Industries had a net margin of 5.24% and a return on equity of 22.06%. The firm had revenue of $952.50 million during the quarter, compared to analyst estimates of $968.87 million. During the same quarter in the previous year, the firm earned $0.83 EPS. Dycom Industries’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Insider Activity

In other news, VP Jason T. Lawson sold 220 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $140.27, for a total transaction of $30,859.40. Following the transaction, the vice president now owns 7,793 shares in the company, valued at $1,093,124.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. B. Riley raised shares of Dycom Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $101.00 to $172.00 in a research note on Friday, March 8th. KeyCorp boosted their price objective on shares of Dycom Industries from $136.00 to $149.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $135.50.

Dycom Industries Company Profile

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.