GSA Capital Partners LLP Cuts Holdings in Dycom Industries, Inc. $DY

GSA Capital Partners LLP lowered its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 37.6% in the third quarter, Holdings Channel reports. The institutional investor owned 3,450 shares of the construction company’s stock after selling 2,080 shares during the period. GSA Capital Partners LLP’s holdings in Dycom Industries were worth $1,007,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in DY. denkapparat Operations GmbH purchased a new stake in shares of Dycom Industries during the 3rd quarter worth $466,000. Zions Bancorporation National Association UT purchased a new position in Dycom Industries in the third quarter valued at about $1,299,000. Smithfield Trust Co bought a new position in Dycom Industries in the third quarter worth about $58,000. PNC Financial Services Group Inc. lifted its position in shares of Dycom Industries by 2.0% during the third quarter. PNC Financial Services Group Inc. now owns 2,738 shares of the construction company’s stock valued at $799,000 after buying an additional 53 shares during the last quarter. Finally, Aberdeen Group plc boosted its holdings in shares of Dycom Industries by 0.8% in the 3rd quarter. Aberdeen Group plc now owns 12,601 shares of the construction company’s stock valued at $3,705,000 after buying an additional 101 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Stock Performance

Shares of NYSE DY opened at $419.34 on Friday. The company has a 50 day simple moving average of $368.98 and a two-hundred day simple moving average of $317.00. The stock has a market cap of $12.14 billion, a price-to-earnings ratio of 41.27, a PEG ratio of 1.81 and a beta of 1.36. The company has a current ratio of 3.09, a quick ratio of 2.90 and a debt-to-equity ratio of 0.62. Dycom Industries, Inc. has a 12 month low of $131.37 and a 12 month high of $445.52.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, November 19th. The construction company reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.48. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.41 billion. Dycom Industries had a net margin of 5.75% and a return on equity of 22.21%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.68 earnings per share. As a group, analysts predict that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Insider Activity

In other news, Director Eitan Gertel sold 3,645 shares of the business’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $345.62, for a total value of $1,259,784.90. Following the completion of the transaction, the director owned 15,997 shares of the company’s stock, valued at $5,528,883.14. The trade was a 18.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Dycom Industries from $370.00 to $395.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Wells Fargo & Company raised their target price on shares of Dycom Industries from $315.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. DA Davidson upped their price target on Dycom Industries from $300.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. KeyCorp restated an “overweight” rating on shares of Dycom Industries in a research note on Tuesday, January 27th. Finally, Bank of America raised their price target on Dycom Industries from $310.00 to $365.00 and gave the stock a “buy” rating in a report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $395.20.

Dycom Industries Profile

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.