Salem Investment Counselors Inc. Has $2.83 Million Holdings in Dycom Industries, Inc. (NYSE:DY)

Salem Investment Counselors Inc. cut its stake in Dycom Industries, Inc. (NYSE:DY) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,706 shares of the construction company’s stock after selling 800 shares during the period. Salem Investment Counselors Inc. owned about 0.07% of Dycom Industries worth $2,828,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Peconic Partners LLC increased its holdings in Dycom Industries by 0.7% during the 4th quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock valued at $375,847,000 after purchasing an additional 21,635 shares in the last quarter. Vanguard Group Inc. increased its holdings in Dycom Industries by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock valued at $366,406,000 after purchasing an additional 42,121 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Dycom Industries by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,008,912 shares of the construction company’s stock valued at $116,117,000 after purchasing an additional 15,389 shares in the last quarter. FMR LLC increased its holdings in Dycom Industries by 3.0% during the 3rd quarter. FMR LLC now owns 674,834 shares of the construction company’s stock valued at $60,060,000 after purchasing an additional 19,842 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Dycom Industries by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 418,969 shares of the construction company’s stock valued at $48,219,000 after purchasing an additional 18,063 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DY shares. B. Riley raised their price target on Dycom Industries from $172.00 to $205.00 and gave the company a “buy” rating in a report on Friday, May 31st. Craig Hallum lifted their target price on Dycom Industries from $145.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Bank of America lifted their target price on Dycom Industries from $160.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. UBS Group lifted their target price on Dycom Industries from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Raymond James lifted their target price on Dycom Industries from $143.00 to $195.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 23rd. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Dycom Industries has a consensus rating of “Buy” and an average price target of $191.71.

Insiders Place Their Bets

In other Dycom Industries news, VP Jason T. Lawson sold 220 shares of Dycom Industries stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $140.27, for a total transaction of $30,859.40. Following the transaction, the vice president now directly owns 7,793 shares in the company, valued at $1,093,124.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.28% of the company’s stock.

Dycom Industries Stock Up 0.0 %

NYSE:DY opened at $166.83 on Monday. Dycom Industries, Inc. has a 12-month low of $78.42 and a 12-month high of $186.47. The company has a quick ratio of 2.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $4.85 billion, a P/E ratio of 21.50, a P/E/G ratio of 1.80 and a beta of 1.48. The stock’s fifty day simple moving average is $158.78 and its 200-day simple moving average is $135.60.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.73. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 earnings per share. Equities research analysts expect that Dycom Industries, Inc. will post 7.96 earnings per share for the current 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.