Transform Wealth LLC Sells 1,250 Shares of Dycom Industries, Inc. (NYSE:DY)

Transform Wealth LLC cut its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 45.5% in the first quarter, Holdings Channel reports. The fund owned 1,500 shares of the construction company’s stock after selling 1,250 shares during the period. Transform Wealth LLC’s holdings in Dycom Industries were worth $229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Versant Capital Management Inc bought a new position in Dycom Industries in the 1st quarter valued at $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock valued at $59,000 after buying an additional 71 shares during the last quarter. GeoWealth Management LLC raised its holdings in shares of Dycom Industries by 35.9% in the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company’s stock valued at $61,000 after buying an additional 92 shares during the last quarter. Anchor Investment Management LLC raised its holdings in shares of Dycom Industries by 37.5% in the fourth quarter. Anchor Investment Management LLC now owns 367 shares of the construction company’s stock valued at $64,000 after buying an additional 100 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Dycom Industries by 107.0% in the fourth quarter. Federated Hermes Inc. now owns 387 shares of the construction company’s stock valued at $67,000 after buying an additional 200 shares during the last quarter. 98.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. B. Riley boosted their target price on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Raymond James boosted their price objective on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Dycom Industries from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, May 22nd. UBS Group lifted their target price on Dycom Industries from $234.00 to $258.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. Finally, KeyCorp lowered their target price on Dycom Industries from $201.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. One equities 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, the company presently has a consensus rating of “Buy” and an average target price of $241.25.

Dycom Industries Price Performance

DY opened at $236.46 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $243.38. The company has a fifty day moving average price of $188.72 and a two-hundred day moving average price of $179.01. The firm has a market capitalization of $6.84 billion, a PE ratio of 31.11, a P/E/G ratio of 1.29 and a beta of 1.32.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.47. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.12 earnings per share. As a group, analysts anticipate that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Dycom Industries declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Dycom Industries 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.