Principal Financial Group Inc. Has $107.78 Million Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

Principal Financial Group Inc. reduced its stake in Dycom Industries, Inc. (NYSE:DY) by 20.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 638,681 shares of the construction company’s stock after selling 163,345 shares during the quarter. Principal Financial Group Inc.’s holdings in Dycom Industries were worth $107,784,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. US Bancorp DE lifted its position in shares of Dycom Industries by 109.3% in the 4th quarter. US Bancorp DE now owns 14,623 shares of the construction company’s stock worth $1,683,000 after purchasing an additional 7,638 shares during the period. BNP Paribas Financial Markets boosted its position in Dycom Industries by 33.1% during the first quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company’s stock valued at $4,630,000 after acquiring an additional 8,028 shares during the last quarter. Sheets Smith Wealth Management grew its holdings in Dycom Industries by 100.0% during the 1st quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock worth $1,009,000 after acquiring an additional 3,514 shares during the period. Vanguard Group Inc. grew 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 worth $366,406,000 after acquiring an additional 42,121 shares during the period. Finally, Peconic Partners LLC raised its position in shares of Dycom Industries by 0.7% in the 4th quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock worth $375,847,000 after acquiring an additional 21,635 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

Insider Activity at Dycom Industries

In other news, VP Jason T. Lawson sold 856 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $174.48, for a total value of $149,354.88. Following the transaction, the vice president now owns 6,937 shares in the company, valued at $1,210,367.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.28% of the stock is owned by insiders.

Dycom Industries Price Performance

Shares of DY opened at $175.87 on Friday. The business’s fifty day moving average is $176.79 and its 200 day moving average is $157.29. Dycom Industries, Inc. has a 12-month low of $78.42 and a 12-month high of $196.34. 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 stock has a market cap of $5.12 billion, a P/E ratio of 22.66, a P/E/G ratio of 1.91 and a beta of 1.45.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.20. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $2.03 earnings per share. Sell-side analysts anticipate that Dycom Industries, Inc. will post 8.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company upped their target price on Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Craig Hallum raised their price objective on shares of Dycom Industries from $145.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. KeyCorp lifted their price objective on shares of Dycom Industries from $195.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. B. Riley increased their target price on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Raymond James lifted their price target on shares of Dycom Industries from $143.00 to $195.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $199.57.

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.