Dycom Industries, Inc. (NYSE:DY) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in Dycom Industries, Inc. (NYSE:DY) by 53.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 10,634 shares of the construction company’s stock after selling 12,238 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Dycom Industries were worth $1,795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of DY. Allspring Global Investments Holdings LLC acquired a new stake in Dycom Industries during the first quarter valued at approximately $28,000. GAMMA Investing LLC raised its stake in Dycom Industries by 107.8% during the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock valued at $49,000 after buying an additional 152 shares in the last quarter. SJS Investment Consulting Inc. raised its position in shares of Dycom Industries by 5,071.4% during the 2nd quarter. SJS Investment Consulting Inc. now owns 362 shares of the construction company’s stock worth $61,000 after purchasing an additional 355 shares during the period. Signaturefd LLC raised its position in shares of Dycom Industries by 196.7% during the 2nd quarter. Signaturefd LLC now owns 359 shares of the construction company’s stock worth $61,000 after purchasing an additional 238 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Dycom Industries during the 1st quarter worth approximately $72,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Performance

Shares of DY stock opened at $196.04 on Wednesday. Dycom Industries, Inc. has a 12-month low of $78.42 and a 12-month high of $199.77. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. The business has a 50 day simple moving average of $180.88 and a 200 day simple moving average of $164.97. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DY. Bank of America increased their price target on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Wells Fargo & Company increased their price target on Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. StockNews.com cut Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. KeyCorp increased their price objective on Dycom Industries from $195.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, B. Riley increased their price objective on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $199.57.

Insider Buying and Selling at Dycom Industries

In related news, VP Jason T. Lawson sold 856 shares of Dycom Industries stock in a transaction 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 directly owns 6,937 shares in the company, valued at approximately $1,210,367.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.28% of the stock is currently owned by corporate insiders.

Dycom Industries Company 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.