Swiss National Bank Cuts Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

Swiss National Bank reduced its position in shares of Dycom Industries, Inc. (NYSE:DY) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,500 shares of the construction company’s stock after selling 700 shares during the period. Swiss National Bank owned approximately 0.20% of Dycom Industries worth $8,607,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in Dycom Industries by 18.9% during the first quarter. KBC Group NV now owns 1,443 shares of the construction company’s stock worth $220,000 after purchasing an additional 229 shares in the last quarter. SG Americas Securities LLC purchased a new position in Dycom Industries during the first quarter worth about $342,000. Public Employees Retirement System of Ohio raised its holdings in Dycom Industries by 105.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the construction company’s stock worth $194,000 after purchasing an additional 572 shares in the last quarter. J. Goldman & Co LP raised its holdings in Dycom Industries by 25.4% during the fourth quarter. J. Goldman & Co LP now owns 90,253 shares of the construction company’s stock worth $15,709,000 after purchasing an additional 18,289 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in Dycom Industries by 27.1% in the first quarter. Federated Hermes Inc. now owns 492 shares of the construction company’s stock valued at $75,000 after buying an additional 105 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DY shares. Raymond James Financial increased their target price on shares of 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 increased their target price on shares of Dycom Industries from $200.00 to $265.00 and gave the company a “buy” rating in a report on Friday, May 23rd. KeyCorp increased their target price on shares of Dycom Industries from $255.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Wells Fargo & Company increased their target price 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. Finally, Wall Street Zen cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $259.00.

Dycom Industries Stock Down 0.2%

DY stock opened at $267.45 on Friday. The company’s 50 day simple moving average is $253.10 and its 200-day simple moving average is $202.69. The firm has a market capitalization of $7.73 billion, a PE ratio of 33.90, a P/E/G ratio of 1.54 and a beta of 1.34. Dycom Industries, Inc. has a 12 month low of $131.37 and a 12 month high of $285.64. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.89 and a quick ratio of 2.68.

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

Dycom Industries 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.