Dycom Industries, Inc. (NYSE:DY) Shares Purchased by Somerset Trust Co

Somerset Trust Co increased its position in shares of Dycom Industries, Inc. (NYSE:DYFree Report) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,380 shares of the construction company’s stock after purchasing an additional 487 shares during the period. Somerset Trust Co’s holdings in Dycom Industries were worth $629,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DY. Swiss National Bank raised its holdings in shares of Dycom Industries by 1.1% in the third quarter. Swiss National Bank now owns 64,500 shares of the construction company’s stock valued at $5,740,000 after buying an additional 700 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Dycom Industries by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 400,906 shares of the construction company’s stock worth $35,681,000 after acquiring an additional 12,757 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of Dycom Industries by 5.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 24,894 shares of the construction company’s stock worth $2,216,000 after acquiring an additional 1,274 shares during the period. Deutsche Bank AG grew its position in Dycom Industries by 12.8% during the third quarter. Deutsche Bank AG now owns 15,810 shares of the construction company’s stock worth $1,407,000 after buying an additional 1,791 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Dycom Industries by 32.9% during the third quarter. Envestnet Asset Management Inc. now owns 34,932 shares of the construction company’s stock worth $3,109,000 after buying an additional 8,640 shares during the period. 98.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Dycom Industries Trading Down 1.3 %

Shares of DY traded down $2.29 on Wednesday, hitting $168.34. 297,067 shares of the stock traded hands, compared to its average volume of 303,508. The company has a quick ratio of 2.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $4.90 billion, a P/E ratio of 21.69, a P/E/G ratio of 1.84 and a beta of 1.48. The stock’s 50 day moving average is $157.03 and its two-hundred day moving average is $134.32. Dycom Industries, Inc. has a 1 year low of $78.42 and a 1 year high of $186.47.

Dycom Industries (NYSE:DYGet Free Report) last posted its quarterly earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.73. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. Dycom Industries’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 earnings per share. As a group, sell-side analysts predict that Dycom Industries, Inc. will post 7.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DY shares. UBS Group upped their target price on shares of Dycom Industries from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Bank of America upped their target price on shares of Dycom Industries from $160.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Craig Hallum upped their target price on shares of Dycom Industries from $145.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. KeyCorp increased their price target 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. Finally, Wells Fargo & Company increased their price target on shares of Dycom Industries from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $191.71.

Check Out Our Latest Report on DY

Dycom Industries Profile

(Free Report)

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.

See Also

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

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