Applied Fundamental Research LLC Sells 30,710 Shares of Dycom Industries, Inc. (NYSE:DY)

Applied Fundamental Research LLC decreased its holdings in Dycom Industries, Inc. (NYSE:DY) by 36.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,555 shares of the construction company’s stock after selling 30,710 shares during the quarter. Dycom Industries accounts for about 6.8% of Applied Fundamental Research LLC’s investment portfolio, making the stock its 9th largest position. Applied Fundamental Research LLC owned approximately 0.19% of Dycom Industries worth $9,207,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Dycom Industries in the 4th quarter worth approximately $33,679,000. Assenagon Asset Management S.A. boosted its stake in shares of Dycom Industries by 2,353.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock valued at $26,831,000 after buying an additional 152,509 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Dycom Industries by 2,543.6% during the 2nd quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company’s stock valued at $17,399,000 after buying an additional 99,200 shares during the period. Appian Way Asset Management LP boosted its stake in shares of Dycom Industries by 84.2% during the 1st quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company’s stock valued at $28,328,000 after buying an additional 90,198 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Dycom Industries by 36.3% during the 4th quarter. First Trust Advisors LP now owns 271,782 shares of the construction company’s stock valued at $31,279,000 after buying an additional 72,415 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 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 sale, the vice president now directly owns 6,937 shares of the company’s stock, valued at $1,210,367.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.28% of the stock is owned by insiders.

Dycom Industries Stock Performance

NYSE:DY opened at $195.71 on Monday. The firm’s 50-day moving average is $180.22 and its 200-day moving average is $164.18. Dycom Industries, Inc. has a 52-week low of $78.42 and a 52-week high of $197.37. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.44. 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 (NYSE:DY) last issued its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.20. The firm had revenue of $1.20 billion for 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 firm earned $2.03 earnings per share. Equities research analysts anticipate that Dycom Industries, Inc. will post 8.02 earnings per share for the current year.

Wall Street Analyst Weigh In

DY has been the subject of a number of research reports. B. Riley lifted their target price on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Bank of America lifted their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, August 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. Finally, Wells Fargo & Company lifted their price objective on shares of Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, six have given 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 $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.