Arizona State Retirement System Has $1.38 Million Position in Dycom Industries, Inc. (NYSE:DY)

Arizona State Retirement System grew its holdings in Dycom Industries, Inc. (NYSE:DY) by 1.0% during the second quarter, Holdings Channel.com reports. The firm owned 8,145 shares of the construction company’s stock after acquiring an additional 82 shares during the period. Arizona State Retirement System’s holdings in Dycom Industries were worth $1,375,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. US Bancorp DE boosted its stake 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 purchasing an additional 7,638 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of 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 period. Sheets Smith Wealth Management lifted its stake in shares of Dycom Industries by 100.0% during the first quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock valued at $1,009,000 after acquiring an additional 3,514 shares during the period. Vanguard Group Inc. lifted its stake in shares of 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 period. Finally, Peconic Partners LLC lifted 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 valued at $375,847,000 after acquiring an additional 21,635 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Performance

Shares of DY stock opened at $184.21 on Friday. 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 capitalization of $5.36 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 1.81 and a beta of 1.41. The company’s 50 day moving average price is $177.87 and its two-hundred day moving average price is $160.90. Dycom Industries, Inc. has a 52 week low of $78.42 and a 52 week high of $196.34.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 21st. The construction company reported $2.46 EPS 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 the consensus estimate of $1.20 billion. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The business’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, analysts expect that Dycom Industries, Inc. will post 7.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 value of $149,354.88. Following the sale, the vice president now directly 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 is available through the SEC website. Corporate insiders own 4.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Bank of America raised their target price 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. Raymond James raised their target price 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. Craig Hallum raised their target price on shares of Dycom Industries from $145.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. UBS Group raised their target price on shares of Dycom Industries from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, B. Riley raised 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. One equities 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 stock. Based on data from MarketBeat.com, Dycom Industries has an average rating of “Buy” and a consensus price target of $199.57.

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.