Callahan Advisors LLC Lowers Stake in Dycom Industries, Inc. (NYSE:DY)

Callahan Advisors LLC reduced its position in Dycom Industries, Inc. (NYSE:DY) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,132 shares of the construction company’s stock after selling 609 shares during the quarter. Callahan Advisors LLC’s holdings in Dycom Industries were worth $6,136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Asset Management One Co. Ltd. bought a new stake in shares of Dycom Industries in the third quarter valued at about $3,219,000. Mariner Investment Group LLC bought a new stake in shares of Dycom Industries in the third quarter valued at about $507,000. Pinnacle Associates Ltd. raised its holdings in shares of Dycom Industries by 2.5% in the third quarter. Pinnacle Associates Ltd. now owns 65,464 shares of the construction company’s stock valued at $12,903,000 after acquiring an additional 1,617 shares in the last quarter. First Trust Direct Indexing L.P. bought a new stake in shares of Dycom Industries in the third quarter valued at about $214,000. Finally, HWG Holdings LP bought a new position in Dycom Industries in the third quarter worth about $3,198,000. 98.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. KeyCorp boosted their target price on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wells Fargo & Company boosted their target price on shares of Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. B. Riley boosted their target price on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Bank of America boosted their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Dycom Industries currently has an average rating of “Buy” and an average target price of $203.43.

Dycom Industries Stock Performance

DY opened at $184.45 on Wednesday. Dycom Industries, Inc. has a 52-week low of $80.65 and a 52-week high of $207.20. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81. The company has a market cap of $5.37 billion, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The firm’s 50-day moving average price is $186.56 and its 200-day moving average price is $175.45.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.20. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that Dycom Industries, Inc. will post 8.02 EPS 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.