PineBridge Investments L.P. Sells 44 Shares of Dycom Industries Inc. (DY)
PineBridge Investments L.P. lowered its stake in shares of Dycom Industries Inc. (NYSE:DY) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 3,975 shares of the company’s stock after selling 44 shares during the period. PineBridge Investments L.P.’s holdings in Dycom Industries were worth $357,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Dycom Industries during the fourth quarter valued at about $21,693,000. UMB Bank N A MO bought a new position in shares of Dycom Industries during the first quarter valued at about $317,000. Moody Aldrich Partners LLC bought a new position in shares of Dycom Industries during the first quarter valued at about $707,000. Glenmede Trust Co. NA raised its position in shares of Dycom Industries by 0.5% in the first quarter. Glenmede Trust Co. NA now owns 7,778 shares of the company’s stock valued at $501,000 after buying an additional 40 shares in the last quarter. Finally, Commonwealth Equity Services Inc bought a new position in shares of Dycom Industries during the first quarter valued at about $1,809,000.
Shares of Dycom Industries Inc. (NYSE:DY) traded down 0.12% during mid-day trading on Wednesday, reaching $80.53. The company had a trading volume of 19,805 shares. The company has a market capitalization of $2.53 billion, a P/E ratio of 20.70 and a beta of 1.56. Dycom Industries Inc. has a 12-month low of $47.10 and a 12-month high of $98.45. The firm has a 50-day moving average of $86.12 and a 200-day moving average of $79.17.
Dycom Industries (NYSE:DY) last announced its earnings results on Tuesday, August 23rd. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.09. Dycom Industries had a net margin of 4.82% and a return on equity of 27.39%. The company earned $789.16 million during the quarter, compared to analyst estimates of $770.66 million. During the same period in the previous year, the business earned $0.97 earnings per share. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. On average, equities analysts anticipate that Dycom Industries Inc. will post $5.37 earnings per share for the current fiscal year.
Several research analysts recently issued reports on DY shares. Vetr raised Dycom Industries from a “hold” rating to a “buy” rating and set a $90.92 target price for the company in a research report on Monday, August 15th. FBR & Co raised their target price on Dycom Industries from $115.00 to $121.00 and gave the stock an “outperform” rating in a research report on Thursday, August 25th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Dycom Industries in a research report on Sunday, June 5th. Zacks Investment Research lowered Dycom Industries from a “buy” rating to a “hold” rating in a research report on Monday, August 29th. Finally, DA Davidson set a $110.00 price objective on Dycom Industries and gave the stock a “buy” rating in a research report on Monday, August 22nd. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $98.57.
In other Dycom Industries news, Director Charles B. Coe sold 26,897 shares of the company’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $89.90, for a total transaction of $2,418,040.30. Following the completion of the sale, the director now directly owns 69,290 shares in the company, valued at $6,229,171. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Timothy R. Estes sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $96.03, for a total transaction of $960,300.00. Following the sale, the chief operating officer now owns 233,812 shares of the company’s stock, valued at $22,452,966.36. The disclosure for this sale can be found here. Company insiders own 4.96% of the company’s stock.
Dycom Industries Company Profile
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including telecommunications providers, and other construction and maintenance services to electric and gas utilities.
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