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Somerset Trust Co Takes Position in Dycom Industries, Inc. (NYSE:DY)

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Somerset Trust Co purchased a new position in Dycom Industries, Inc. (NYSE:DY) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 2,427 shares of the construction company’s stock, valued at approximately $225,000.

Other large investors also recently made changes to their positions in the company. Squarepoint Ops LLC lifted its holdings in shares of Dycom Industries by 92.7% during the fourth quarter. Squarepoint Ops LLC now owns 35,463 shares of the construction company’s stock valued at $2,678,000 after purchasing an additional 17,059 shares during the last quarter. First Washington CORP boosted its position in Dycom Industries by 1.0% during the 4th quarter. First Washington CORP now owns 132,438 shares of the construction company’s stock worth $10,002,000 after acquiring an additional 1,290 shares during the period. Peconic Partners LLC lifted its position in shares of Dycom Industries by 8,350.1% in the fourth quarter. Peconic Partners LLC now owns 507,005 shares of the construction company’s stock worth $38,289,000 after purchasing an additional 501,005 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in Dycom Industries by 233.2% during the third quarter. Cubist Systematic Strategies LLC now owns 64,762 shares of the construction company’s stock valued at $3,421,000 after purchasing an additional 45,325 shares in the last quarter. Finally, Concord Wealth Partners acquired a new stake in shares of Dycom Industries during the 4th quarter valued at $1,639,000. Institutional investors own 94.92% of the company’s stock.

Several equities analysts recently weighed in on the stock. TheStreet raised shares of Dycom Industries from a “d+” rating to a “c-” rating in a research report on Tuesday, March 2nd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $88.00 price objective on shares of Dycom Industries in a report on Wednesday, March 10th. B. Riley increased their price objective on Dycom Industries from $92.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, January 7th. They noted that the move was a valuation call. DA Davidson upped their target price on Dycom Industries from $80.00 to $105.00 in a research report on Thursday, March 4th. Finally, Craig Hallum boosted their price objective on shares of Dycom Industries from $72.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, March 4th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Dycom Industries currently has an average rating of “Buy” and an average target price of $94.33.

In other Dycom Industries news, CAO Sharon Villaverde sold 1,560 shares of the firm’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $93.46, for a total value of $145,797.60. Following the completion of the transaction, the chief accounting officer now directly owns 7,759 shares in the company, valued at $725,156.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Timothy R. Estes sold 51,969 shares of the business’s stock in a transaction on Thursday, January 14th. The stock was sold at an average price of $86.01, for a total transaction of $4,469,853.69. Following the transaction, the chief operating officer now owns 152,900 shares in the company, valued at $13,150,929. The disclosure for this sale can be found here. Insiders sold 57,145 shares of company stock worth $4,955,953 over the last quarter. 5.66% of the stock is owned by corporate insiders.

DY traded up $3.45 during midday trading on Friday, reaching $96.61. 2,903 shares of the company were exchanged, compared to its average volume of 408,592. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.58 and a current ratio of 2.73. Dycom Industries, Inc. has a one year low of $25.15 and a one year high of $101.16. The stock’s 50-day simple moving average is $87.59 and its 200 day simple moving average is $77.00. The stock has a market capitalization of $2.96 billion, a P/E ratio of 113.61 and a beta of 1.62.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Tuesday, March 2nd. The construction company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.11). The firm had revenue of $750.60 million during the quarter, compared to analyst estimates of $724.67 million. Dycom Industries had a net margin of 0.86% and a return on equity of 8.77%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) EPS. On average, research analysts anticipate that Dycom Industries, Inc. will post 2.66 earnings per share for the current year.

About Dycom Industries

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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Want to see what other hedge funds are holding DY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dycom Industries, Inc. (NYSE:DY).

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


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