The Manufacturers Life Insurance Company Sells 325 Shares of Dycom Industries, Inc. (NYSE:DY)

The Manufacturers Life Insurance Company trimmed its position in Dycom Industries, Inc. (NYSE:DY) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,907 shares of the construction company’s stock after selling 325 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Dycom Industries worth $3,360,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DY. BNP Paribas Financial Markets lifted its stake in Dycom Industries by 33.1% in the 1st 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 holdings 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 during the period. Vanguard Group Inc. raised its position in shares of Dycom Industries by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock worth $366,406,000 after buying an additional 42,121 shares in the last quarter. Peconic Partners LLC boosted its stake in 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 buying an additional 21,635 shares during the period. Finally, UniSuper Management Pty Ltd purchased a new position in Dycom Industries during the first quarter worth about $794,000. 98.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. B. Riley raised their price target on Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Bank of America boosted their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. KeyCorp raised their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $203.43.

Dycom Industries Trading Down 0.3 %

Shares of DY opened at $190.23 on Wednesday. Dycom Industries, Inc. has a fifty-two week low of $78.42 and a fifty-two week high of $199.77. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.09 and a beta of 1.41. The firm has a 50 day moving average price of $183.92 and a 200-day moving average price of $168.56. 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 (NYSE:DY) last issued its earnings results on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.20. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the company earned $2.03 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts forecast that Dycom Industries, Inc. will post 8.02 earnings per share for the current year.

Insider Activity

In related news, VP Jason T. Lawson sold 856 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $174.48, for a total transaction of $149,354.88. Following the completion of the sale, the vice president now directly owns 6,937 shares in the company, valued at $1,210,367.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.28% of the stock is currently owned by corporate insiders.

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.