Victory Capital Management Inc. Sells 938 Shares of Dycom Industries, Inc. (NYSE:DY)

Victory Capital Management Inc. lowered its position in Dycom Industries, Inc. (NYSE:DY) by 9.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,603 shares of the construction company’s stock after selling 938 shares during the quarter. Victory Capital Management Inc.’s holdings in Dycom Industries were worth $1,452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. US Bancorp DE grew its position in Dycom Industries by 109.3% in the fourth quarter. US Bancorp DE now owns 14,623 shares of the construction company’s stock worth $1,683,000 after acquiring an additional 7,638 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Dycom Industries by 33.1% in the 1st quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company’s stock worth $4,630,000 after buying an additional 8,028 shares during the last quarter. Sheets Smith Wealth Management boosted its stake in Dycom Industries by 100.0% in the first quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock worth $1,009,000 after buying an additional 3,514 shares in the last quarter. Vanguard Group Inc. grew its position in Dycom Industries by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock valued at $366,406,000 after acquiring an additional 42,121 shares during the last quarter. Finally, Peconic Partners LLC raised its stake in shares of Dycom Industries by 0.7% during the fourth 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. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DY. StockNews.com cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Raymond James raised their price target on Dycom Industries from $143.00 to $195.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 23rd. Craig Hallum boosted their price objective on Dycom Industries from $145.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. KeyCorp raised their target price on shares of Dycom Industries from $195.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company lifted their target price on shares of Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $199.57.

Insider Transactions at Dycom Industries

In other news, VP Jason T. Lawson sold 856 shares of Dycom Industries stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $174.48, for a total transaction of $149,354.88. Following the completion of the transaction, the vice president now directly owns 6,937 shares in the company, valued at $1,210,367.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.28% of the company’s stock.

Dycom Industries Trading Up 1.0 %

Shares of DY opened at $190.14 on Thursday. Dycom Industries, Inc. has a 1-year low of $78.42 and a 1-year high of $196.34. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The firm’s 50-day moving average price is $179.47 and its 200-day moving average price is $163.06. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 1.96 and a beta of 1.41.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the firm posted $2.03 EPS. The business’s revenue was up 15.5% on a year-over-year basis. Sell-side analysts anticipate that Dycom Industries, Inc. will post 8.02 EPS for the current year.

About Dycom Industries

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.