Dycom Industries, Inc. (NYSE:DY) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its holdings in Dycom Industries, Inc. (NYSE:DY) by 16.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 817,926 shares of the construction company’s stock after selling 155,872 shares during the quarter. Dimensional Fund Advisors LP owned 2.81% of Dycom Industries worth $138,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Peconic Partners LLC increased its stake in shares of Dycom Industries by 0.7% in 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 during the period. Vanguard Group Inc. increased its stake in shares of Dycom Industries by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock worth $458,728,000 after acquiring an additional 12,395 shares during the period. Norges Bank acquired a new stake in shares of Dycom Industries in the fourth quarter worth $33,679,000. First Trust Advisors LP increased its stake in shares of Dycom Industries by 36.3% in the fourth quarter. First Trust Advisors LP now owns 271,782 shares of the construction company’s stock worth $31,279,000 after acquiring an additional 72,415 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Dycom Industries by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 230,216 shares of the construction company’s stock worth $38,851,000 after acquiring an additional 971 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

DY has been the topic of a number of recent analyst reports. KeyCorp increased their price target 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. Bank of America increased their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. B. Riley increased their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company increased their price target on shares of Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $199.57.

Dycom Industries Stock Performance

DY opened at $195.71 on Friday. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.96 and a beta of 1.41. Dycom Industries, Inc. has a 52-week low of $78.42 and a 52-week high of $197.37. The firm’s fifty day simple moving average is $180.22 and its two-hundred day simple moving average is $163.97.

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