Alliancebernstein L.P. trimmed its position in shares of Dycom Industries, Inc. (NYSE:DY) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 934,634 shares of the construction company’s stock after selling 23,344 shares during the period. Alliancebernstein L.P. owned 3.01% of Dycom Industries worth $83,668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of DY. Harbour Capital Advisors LLC increased its holdings in Dycom Industries by 9,665.8% during the second quarter. Harbour Capital Advisors LLC now owns 725,112 shares of the construction company’s stock worth $8,100,000 after buying an additional 717,687 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Dycom Industries during the second quarter worth $26,385,000. Columbus Circle Investors increased its holdings in Dycom Industries by 141.6% during the second quarter. Columbus Circle Investors now owns 451,063 shares of the construction company’s stock worth $40,379,000 after buying an additional 264,353 shares during the last quarter. Scout Investments Inc. increased its holdings in Dycom Industries by 407.6% during the second quarter. Scout Investments Inc. now owns 288,107 shares of the construction company’s stock worth $25,791,000 after buying an additional 231,345 shares during the last quarter. Finally, Federated Investors Inc. PA increased its holdings in Dycom Industries by 24.1% during the second quarter. Federated Investors Inc. PA now owns 816,246 shares of the construction company’s stock worth $73,070,000 after buying an additional 158,312 shares during the last quarter.

A number of equities analysts recently weighed in on DY shares. BidaskClub downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Zacks Investment Research cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Craig Hallum reaffirmed a “buy” rating and set a $90.00 price objective (down from $115.00) on shares of Dycom Industries in a research report on Thursday, August 31st. They noted that the move was a valuation call. Canaccord Genuity reduced their price objective on shares of Dycom Industries from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, August 31st. Finally, FBR & Co reaffirmed an “outperform” rating on shares of Dycom Industries in a research report on Monday, June 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $105.29.

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Dycom Industries, Inc. (NYSE:DY) opened at 79.25 on Wednesday. The company has a market capitalization of $2.46 billion, a PE ratio of 15.59 and a beta of 1.26. Dycom Industries, Inc. has a 52-week low of $70.33 and a 52-week high of $110.64. The firm’s 50-day moving average is $83.12 and its 200-day moving average is $91.84.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 30th. The construction company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.03. Dycom Industries had a return on equity of 26.68% and a net margin of 5.13%. The firm had revenue of $780.20 million during the quarter, compared to analyst estimates of $798.62 million. During the same period last year, the firm posted $1.64 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Dycom Industries, Inc. will post $4.37 EPS for the current year.

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 program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.

Institutional Ownership by Quarter for Dycom Industries (NYSE:DY)

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