Seven Eight Capital LP Sells 1,269 Shares of Dycom Industries, Inc. (NYSE:DY)

Seven Eight Capital LP cut its holdings in Dycom Industries, Inc. (NYSE:DY) by 31.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,704 shares of the construction company’s stock after selling 1,269 shares during the period. Seven Eight Capital LP’s holdings in Dycom Industries were worth $456,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DY. US Bancorp DE grew its stake in shares of Dycom Industries by 109.3% during the 4th quarter. US Bancorp DE now owns 14,623 shares of the construction company’s stock valued at $1,683,000 after acquiring an additional 7,638 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Dycom Industries by 33.1% in the first quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company’s stock worth $4,630,000 after purchasing an additional 8,028 shares in the last quarter. Sheets Smith Wealth Management increased its stake in shares of Dycom Industries by 100.0% in the first quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock worth $1,009,000 after purchasing an additional 3,514 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Dycom Industries by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock valued at $366,406,000 after purchasing 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 4th quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock valued at $375,847,000 after buying an additional 21,635 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Trading Up 0.0 %

Shares of DY opened at $195.71 on Monday. The stock has a market capitalization of $5.69 billion, a PE ratio of 25.22, a P/E/G ratio of 1.96 and a beta of 1.41. The company’s fifty day moving average is $180.22 and its 200 day moving average is $164.18. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.44. Dycom Industries, Inc. has a fifty-two week low of $78.42 and a fifty-two week high of $197.37.

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

Wall Street Analyst Weigh In

DY has been the subject of a number of analyst reports. 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 note on Wednesday, July 17th. B. Riley lifted their target price on Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. KeyCorp upped their price target on Dycom Industries from $195.00 to $200.00 and gave the stock an “overweight” 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 report on Friday, July 26th. Finally, Bank of America boosted their target price 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. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $199.57.

Insider Transactions at Dycom Industries

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

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.