Transform Wealth LLC Sells 1,250 Shares of Dycom Industries, Inc. (NYSE:DY)

Transform Wealth LLC cut its holdings in Dycom Industries, Inc. (NYSE:DY) by 45.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,500 shares of the construction company’s stock after selling 1,250 shares during the period. Transform Wealth LLC’s holdings in Dycom Industries were worth $229,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its stake in shares of Dycom Industries by 327.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company’s stock worth $60,818,000 after acquiring an additional 305,755 shares in the last quarter. SG Americas Securities LLC bought a new stake in Dycom Industries during the first quarter worth approximately $342,000. Simplicity Wealth LLC bought a new stake in shares of Dycom Industries during the 1st quarter worth $263,000. IMC Chicago LLC bought a new stake in shares of Dycom Industries during the 1st quarter worth $1,777,000. Finally, NBC Securities Inc. boosted its holdings in shares of Dycom Industries by 70,784.2% during the 1st quarter. NBC Securities Inc. now owns 13,468 shares of the construction company’s stock worth $2,051,000 after buying an additional 13,449 shares during the period. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Price Performance

Shares of DY stock opened at $236.46 on Thursday. The company has a market capitalization of $6.84 billion, a P/E ratio of 31.11, a P/E/G ratio of 1.29 and a beta of 1.32. Dycom Industries, Inc. has a 12 month low of $131.37 and a 12 month high of $243.38. The stock has a 50 day moving average of $188.72 and a two-hundred day moving average of $179.01. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.62 by $0.47. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. Dycom Industries’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $2.12 earnings per share. As a group, equities analysts expect that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Dycom Industries declared that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to buy up to 3.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DY shares. Wells Fargo & Company upped their price target on shares of Dycom Industries from $215.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, May 27th. UBS Group increased their target price on Dycom Industries from $234.00 to $258.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. DA Davidson increased their price objective on Dycom Industries from $220.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. B. Riley increased their price objective on Dycom Industries from $200.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Finally, KeyCorp reduced their price objective on Dycom Industries from $201.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $241.25.

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.