Advisors Asset Management Inc. lowered its stake in shares of Dycom Industries Inc. (NYSE:DY) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,704 shares of the company’s stock after selling 354 shares during the period. Advisors Asset Management Inc.’s holdings in Dycom Industries were worth $1,051,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Geneva Advisors LLC bought a new stake in shares of Dycom Industries during the second quarter valued at approximately $759,000. Oppenheimer & Co. Inc. increased its stake in shares of Dycom Industries by 3.0% in the second quarter. Oppenheimer & Co. Inc. now owns 11,649 shares of the company’s stock valued at $1,045,000 after buying an additional 340 shares in the last quarter. Argent Capital Management LLC acquired a new stake in shares of Dycom Industries during the second quarter valued at about $3,227,000. Stephens Inc. AR acquired a new stake in shares of Dycom Industries during the second quarter valued at about $3,439,000. Finally, First Washington CORP increased its stake in shares of Dycom Industries by 0.5% in the second quarter. First Washington CORP now owns 44,600 shares of the company’s stock valued at $4,003,000 after buying an additional 200 shares in the last quarter.

Shares of Dycom Industries Inc. (NYSE:DY) traded up 0.22% on Tuesday, hitting $80.97. The stock had a trading volume of 499,696 shares. Dycom Industries Inc. has a one year low of $47.10 and a one year high of $98.45. The firm’s 50 day moving average is $86.50 and its 200-day moving average is $79.02. The stock has a market capitalization of $2.54 billion, a PE ratio of 20.81 and a beta of 1.56.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Tuesday, August 23rd. The company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.09. Dycom Industries had a return on equity of 27.39% and a net margin of 4.82%. The business earned $789.16 million during the quarter, compared to analysts’ expectations of $770.66 million. During the same period in the previous year, the firm earned $0.97 earnings per share. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. Equities research analysts expect that Dycom Industries Inc. will post $5.37 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on DY shares. Vetr raised Dycom Industries from a “hold” rating to a “buy” rating and set a $90.92 price objective for the company in a research note on Monday, August 15th. FBR & Co increased their price objective on Dycom Industries from $115.00 to $121.00 and gave the stock an “outperform” rating in a research note on Thursday, August 25th. Wells Fargo & Co. reissued a “buy” rating on shares of Dycom Industries in a research note on Sunday, June 5th. Zacks Investment Research downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. Finally, DA Davidson set a $110.00 price objective on Dycom Industries and gave the stock a “buy” rating in a research note on Monday, August 22nd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $98.57.

In related news, CAO Rebecca Brightly Roach sold 1,000 shares of Dycom Industries stock in a transaction on Friday, July 8th. The stock was sold at an average price of $94.37, for a total transaction of $94,370.00. Following the completion of the sale, the chief accounting officer now directly owns 8,534 shares of the company’s stock, valued at $805,353.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Kimberly L. Dickens sold 1,661 shares of Dycom Industries stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $95.87, for a total value of $159,240.07. Following the sale, the vice president now directly owns 5,439 shares of the company’s stock, valued at $521,436.93. The disclosure for this sale can be found here. Corporate insiders own 4.96% of the company’s stock.

About Dycom Industries

Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including telecommunications providers, and other construction and maintenance services to electric and gas utilities.

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