Dycom Industries, Inc. (NYSE:DY) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its holdings in Dycom Industries, Inc. (NYSE:DY) by 17.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,520 shares of the construction company’s stock after selling 1,614 shares during the quarter. Teacher Retirement System of Texas’ holdings in Dycom Industries were worth $865,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Cubic Asset Management LLC grew its position in Dycom Industries by 171.6% during the fourth quarter. Cubic Asset Management LLC now owns 11,882 shares of the construction company’s stock valued at $1,367,000 after acquiring an additional 7,507 shares during the period. International Assets Investment Management LLC purchased a new stake in Dycom Industries during the fourth quarter valued at about $6,623,000. Peconic Partners LLC grew its position in Dycom Industries by 2.9% during the third quarter. Peconic Partners LLC now owns 3,244,047 shares of the construction company’s stock valued at $288,720,000 after acquiring an additional 91,093 shares during the period. Invesco Ltd. grew its position in Dycom Industries by 7.3% during the third quarter. Invesco Ltd. now owns 122,809 shares of the construction company’s stock valued at $10,930,000 after acquiring an additional 8,316 shares during the period. Finally, abrdn plc grew its position in Dycom Industries by 275.0% during the third quarter. abrdn plc now owns 15,000 shares of the construction company’s stock valued at $1,335,000 after acquiring an additional 11,000 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dycom Industries

In related news, VP Jason T. Lawson sold 220 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $140.27, for a total value of $30,859.40. Following the completion of the transaction, the vice president now owns 7,793 shares of the company’s stock, valued at $1,093,124.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DY shares. Wells Fargo & Company boosted their price target on Dycom Industries from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday. B. Riley raised Dycom Industries from a “neutral” rating to a “buy” rating and upped their target price for the stock from $101.00 to $172.00 in a research report on Friday, March 8th. Finally, KeyCorp upped their target price on Dycom Industries from $158.00 to $169.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. One investment 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. According to MarketBeat.com, Dycom Industries currently has an average rating of “Buy” and an average target price of $147.17.

Dycom Industries Trading Up 8.1 %

Shares of DY opened at $166.93 on Thursday. The company has a market capitalization of $4.86 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.99 and a beta of 1.37. Dycom Industries, Inc. has a one year low of $78.42 and a one year high of $170.39. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.85 and a current ratio of 3.06. The stock has a 50-day moving average price of $142.97 and a 200 day moving average price of $122.58.

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

About Dycom Industries

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.