Dycom Industries, Inc. (NYSE:DY) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in Dycom Industries, Inc. (NYSE:DY) by 12.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,379 shares of the construction company’s stock after selling 330 shares during the period. PNC Financial Services Group Inc.’s holdings in Dycom Industries were worth $362,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DY. First Trust Advisors LP increased its holdings in Dycom Industries by 142.9% in the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company’s stock valued at $86,405,000 after buying an additional 292,050 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Dycom Industries by 851.6% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company’s stock valued at $72,459,000 after buying an additional 425,652 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Dycom Industries in the fourth quarter valued at $80,584,000. Assenagon Asset Management S.A. increased its holdings in Dycom Industries by 327.1% in the first quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company’s stock valued at $60,818,000 after buying an additional 305,755 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Dycom Industries by 8.7% in the fourth quarter. Northern Trust Corp now owns 320,481 shares of the construction company’s stock valued at $55,783,000 after buying an additional 25,571 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Stock Performance

NYSE DY opened at $267.45 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.80. Dycom Industries, Inc. has a 52-week low of $131.37 and a 52-week high of $285.64. The business’s 50-day moving average price is $253.10 and its 200 day moving average price is $202.55. The firm has a market cap of $7.73 billion, a P/E ratio of 33.90, a P/E/G ratio of 1.53 and a beta of 1.34.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.47. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the company posted $2.12 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on DY shares. Raymond James Financial increased their target price on Dycom Industries from $215.00 to $255.00 and gave the company a “strong-buy” rating in a report on Thursday, May 22nd. B. Riley raised their price objective on Dycom Industries from $200.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. UBS Group raised their price objective on Dycom Industries from $258.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Wall Street Zen lowered Dycom Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company raised their price objective on Dycom Industries from $215.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $259.00.

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.