Pathstone Holdings LLC Cuts Stock Position in Dycom Industries, Inc. (NYSE:DY)

Pathstone Holdings LLC cut its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 7.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 21,939 shares of the construction company’s stock after selling 1,893 shares during the quarter. Pathstone Holdings LLC’s holdings in Dycom Industries were worth $4,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Dycom Industries by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock worth $458,728,000 after buying an additional 12,395 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Dycom Industries during the 1st quarter worth approximately $250,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Dycom Industries by 7.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 25,582 shares of the construction company’s stock worth $3,672,000 after purchasing an additional 1,860 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Dycom Industries by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,770 shares of the construction company’s stock valued at $3,269,000 after purchasing an additional 1,052 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Dycom Industries by 168.5% during the first quarter. Janus Henderson Group PLC now owns 36,835 shares of the construction company’s stock valued at $5,287,000 after purchasing an additional 23,117 shares during the period. 98.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on DY shares. B. Riley boosted 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. Wells Fargo & Company boosted their price objective on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. KeyCorp upped their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Bank of America lifted their target price 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. Finally, DA Davidson restated a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Dycom Industries has a consensus rating of “Buy” and an average price target of $206.13.

Dycom Industries Stock Performance

NYSE DY opened at $180.30 on Friday. The company’s 50 day simple moving average is $189.27 and its two-hundred day simple moving average is $179.07. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 3.25. Dycom Industries, Inc. has a 1 year low of $99.54 and a 1 year high of $207.20. The stock has a market capitalization of $5.25 billion, a PE ratio of 23.72, a P/E/G ratio of 1.52 and a beta of 1.44.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.20. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business posted $2.03 earnings per share. The firm’s revenue was up 15.5% compared to the same quarter last year. Analysts predict that Dycom Industries, Inc. will post 7.96 earnings per share for the current fiscal year.

Dycom Industries Company 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.