Cwm LLC Decreases Position in Dycom Industries, Inc. (NYSE:DY)

Cwm LLC lowered its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 37.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 290 shares of the construction company’s stock after selling 176 shares during the quarter. Cwm LLC’s holdings in Dycom Industries were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of DY. Allspring Global Investments Holdings LLC increased its position in shares of Dycom Industries by 15.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 974 shares of the construction company’s stock valued at $87,000 after purchasing an additional 132 shares during the last quarter. Strs Ohio increased its holdings in Dycom Industries by 50.0% in the fourth quarter. Strs Ohio now owns 1,500 shares of the construction company’s stock valued at $172,000 after buying an additional 500 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Dycom Industries in the fourth quarter valued at $207,000. First Bank & Trust acquired a new stake in Dycom Industries in the fourth quarter valued at $219,000. Finally, Vontobel Holding Ltd. purchased a new stake in Dycom Industries during the 4th quarter worth about $246,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Stock Performance

Shares of DY stock opened at $150.57 on Friday. The stock’s 50-day moving average price is $140.56 and its 200 day moving average price is $118.51. The company has a quick ratio of 2.85, a current ratio of 3.06 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $4.38 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 1.90 and a beta of 1.37. Dycom Industries, Inc. has a 52-week low of $78.42 and a 52-week high of $153.01.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.15). The company had revenue of $952.50 million for the quarter, compared to analyst estimates of $968.87 million. Dycom Industries had a return on equity of 22.06% and a net margin of 5.24%. Dycom Industries’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 earnings per share. As a group, equities research analysts forecast that Dycom Industries, Inc. will post 7.14 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. KeyCorp raised their target price on Dycom Industries from $136.00 to $149.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. B. Riley upgraded 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 report on Friday, March 8th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Dycom Industries presently has an average rating of “Buy” and a consensus price target of $135.50.

Insider Transactions at Dycom Industries

In related news, VP Jason T. Lawson sold 220 shares of Dycom Industries stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $140.27, for a total value of $30,859.40. Following the sale, the vice president now directly owns 7,793 shares in the company, valued at $1,093,124.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.28% of the company’s stock.

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.