Howe & Rusling Inc. Sells 491 Shares of Dycom Industries, Inc. (NYSE:DY)

Howe & Rusling Inc. cut its stake in Dycom Industries, Inc. (NYSE:DY) by 19.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,095 shares of the construction company’s stock after selling 491 shares during the quarter. Howe & Rusling Inc.’s holdings in Dycom Industries were worth $413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Dycom Industries in the first quarter worth about $28,000. Avantax Advisory Services Inc. bought a new position in Dycom Industries in the first quarter worth $220,000. Vanguard Group Inc. lifted its position 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 valued at $458,728,000 after buying an additional 12,395 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in shares of Dycom Industries during the 1st quarter valued at $250,000. Finally, Seven Eight Capital LP purchased a new stake in shares of Dycom Industries in the 1st quarter worth about $570,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. B. Riley upped their price target on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. KeyCorp lifted their price objective on Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Bank of America increased their target price on 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 reiterated a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $206.13.

Dycom Industries Stock Down 12.9 %

DY opened at $176.56 on Thursday. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.55 and a beta of 1.44. The firm has a 50 day moving average price of $189.40 and a 200-day moving average price of $178.80. Dycom Industries, Inc. has a twelve month low of $96.50 and a twelve month 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.

Dycom Industries (NYSE:DY) last released its quarterly earnings results 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. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the business posted $2.03 EPS. Equities research analysts forecast that Dycom Industries, Inc. will post 7.96 earnings per share for the current 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.