California Public Employees Retirement System lessened its position in Dycom Industries, Inc. (NYSE:DY) by 15.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,824 shares of the construction company’s stock after selling 7,978 shares during the quarter. California Public Employees Retirement System’s holdings in Dycom Industries were worth $2,059,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Boston Partners acquired a new position in Dycom Industries in the first quarter valued at about $5,837,000. Texas Permanent School Fund lifted its position in shares of Dycom Industries by 4.2% during the first quarter. Texas Permanent School Fund now owns 21,348 shares of the construction company’s stock worth $981,000 after purchasing an additional 868 shares in the last quarter. Pearl River Capital LLC acquired a new position in shares of Dycom Industries during the first quarter worth approximately $138,000. Rhumbline Advisers lifted its position in shares of Dycom Industries by 0.4% during the first quarter. Rhumbline Advisers now owns 92,933 shares of the construction company’s stock worth $4,269,000 after purchasing an additional 329 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Dycom Industries by 262.2% during the first quarter. Parallel Advisors LLC now owns 815 shares of the construction company’s stock worth $37,000 after purchasing an additional 590 shares in the last quarter. Hedge funds and other institutional investors own 93.75% of the company’s stock.

DY opened at $53.73 on Wednesday. The company has a quick ratio of 3.14, a current ratio of 3.45 and a debt-to-equity ratio of 1.11. The company has a market cap of $1.72 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 2.84 and a beta of 1.31. Dycom Industries, Inc. has a fifty-two week low of $41.78 and a fifty-two week high of $100.76.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Tuesday, May 21st. The construction company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.10. The business had revenue of $883.70 million during the quarter, compared to the consensus estimate of $771.90 million. Dycom Industries had a net margin of 1.86% and a return on equity of 10.52%. Dycom Industries’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, equities research analysts anticipate that Dycom Industries, Inc. will post 2.57 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on the stock. B. Riley upped their target price on shares of Dycom Industries from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Zacks Investment Research upgraded shares of Dycom Industries from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Craig Hallum reiterated an “in-line” rating and set a $65.00 target price (up from $51.00) on shares of Dycom Industries in a research report on Wednesday, May 22nd. Wells Fargo & Co upped their target price on shares of Dycom Industries from $50.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. They noted that the move was a valuation call. Finally, Deutsche Bank upped their target price on shares of Dycom Industries from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Dycom Industries presently has a consensus rating of “Hold” and a consensus target price of $62.13.

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Dycom Industries Profile

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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Institutional Ownership by Quarter for Dycom Industries (NYSE:DY)

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