Principal Financial Group Inc. Buys 27,370 Shares of Dycom Industries, Inc. (NYSE:DY)

Principal Financial Group Inc. increased its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 666,051 shares of the construction company’s stock after acquiring an additional 27,370 shares during the quarter. Principal Financial Group Inc.’s holdings in Dycom Industries were worth $131,278,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Ironwood Investment Management LLC boosted its position in shares of Dycom Industries by 0.4% during the 2nd quarter. Ironwood Investment Management LLC now owns 14,625 shares of the construction company’s stock worth $2,468,000 after purchasing an additional 58 shares in the last quarter. Anchor Investment Management LLC grew its stake in Dycom Industries by 50.4% in the second quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after acquiring an additional 65 shares during the period. Somerset Trust Co increased its holdings in shares of Dycom Industries by 1.6% during the second quarter. Somerset Trust Co now owns 4,448 shares of the construction company’s stock valued at $751,000 after acquiring an additional 68 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Dycom Industries by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 8,145 shares of the construction company’s stock worth $1,375,000 after purchasing an additional 82 shares in the last quarter. Finally, Inspire Advisors LLC increased its stake in Dycom Industries by 1.3% during the 2nd quarter. Inspire Advisors LLC now owns 7,059 shares of the construction company’s stock valued at $1,191,000 after purchasing an additional 90 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DY shares. KeyCorp upped 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. B. Riley lifted their price objective 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. Wells Fargo & Company upped their target price on shares of Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Bank of America raised their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $203.43.

Dycom Industries Stock Up 6.6 %

DY opened at $189.60 on Friday. Dycom Industries, Inc. has a twelve month low of $80.99 and a twelve month high of $207.20. The company’s 50-day moving average price is $187.16 and its two-hundred day moving average price is $175.86. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 1.45 and a beta of 1.44. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81.

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

About Dycom Industries

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.