Dycom Industries, Inc. (NYSE:DY) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in Dycom Industries, Inc. (NYSE:DY) by 21.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,554 shares of the construction company’s stock after selling 1,221 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Dycom Industries were worth $524,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Quadrant Capital Group LLC increased its stake in shares of Dycom Industries by 26.4% during the fourth quarter. Quadrant Capital Group LLC now owns 770 shares of the construction company’s stock worth $89,000 after purchasing an additional 161 shares in the last quarter. Principal Securities Inc. acquired a new stake in Dycom Industries in the 4th quarter worth about $142,000. Strs Ohio increased its stake in Dycom Industries by 50.0% during the 4th quarter. Strs Ohio now owns 1,500 shares of the construction company’s stock worth $172,000 after buying an additional 500 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Dycom Industries during the fourth quarter valued at approximately $207,000. Finally, Personal CFO Solutions LLC purchased a new position in shares of Dycom Industries in the fourth quarter valued at approximately $207,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jason T. Lawson sold 220 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $140.27, for a total value of $30,859.40. Following the transaction, the vice president now owns 7,793 shares of the company’s stock, valued at approximately $1,093,124.11. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DY. UBS Group increased their price objective on Dycom Industries from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. KeyCorp increased their target price on shares of Dycom Industries from $169.00 to $179.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. StockNews.com upgraded shares of Dycom Industries from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. Bank of America upped their price objective on shares of Dycom Industries from $160.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, Wells Fargo & Company raised their target price on shares of Dycom Industries from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Dycom Industries presently has an average rating of “Buy” and a consensus price target of $191.71.

Dycom Industries Price Performance

Dycom Industries stock opened at $170.40 on Friday. The company has a current ratio of 3.17, a quick ratio of 2.97 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $161.41 and a 200 day moving average price of $136.88. Dycom Industries, Inc. has a 12-month low of $78.42 and a 12-month high of $186.47. The stock has a market cap of $4.96 billion, a P/E ratio of 21.96, a PEG ratio of 1.82 and a beta of 1.48.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.73. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm earned $1.73 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Dycom Industries, Inc. will post 7.96 earnings per share 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.