Principal Financial Group Inc. Has $7.28 Million Holdings in Dycom Industries, Inc. (DY)

Principal Financial Group Inc. lowered its holdings in Dycom Industries, Inc. (NYSE:DY) by 4.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 134,645 shares of the construction company’s stock after selling 5,845 shares during the quarter. Principal Financial Group Inc. owned approximately 0.43% of Dycom Industries worth $7,276,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Retirement Systems of Alabama raised its stake in Dycom Industries by 0.5% during the fourth quarter. Retirement Systems of Alabama now owns 40,578 shares of the construction company’s stock valued at $2,193,000 after buying an additional 212 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Dycom Industries by 17.1% in the 4th quarter. Bank of Montreal Can now owns 1,686 shares of the construction company’s stock worth $91,000 after purchasing an additional 246 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Dycom Industries by 1.3% in the 4th quarter. Arizona State Retirement System now owns 22,463 shares of the construction company’s stock worth $1,214,000 after purchasing an additional 284 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Dycom Industries by 16.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,201 shares of the construction company’s stock worth $119,000 after purchasing an additional 307 shares in the last quarter. Finally, Flinton Capital Management LLC increased its holdings in shares of Dycom Industries by 6.2% in the 4th quarter. Flinton Capital Management LLC now owns 5,796 shares of the construction company’s stock worth $313,000 after purchasing an additional 336 shares in the last quarter. Institutional investors and hedge funds own 94.01% of the company’s stock.

A number of analysts have commented on the company. Zacks Investment Research raised Dycom Industries from a “sell” rating to a “hold” rating in a report on Monday, February 4th. ValuEngine lowered Dycom Industries from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Stephens cut their price objective on Dycom Industries from $130.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, March 4th. Craig Hallum cut their price objective on Dycom Industries from $75.00 to $51.00 and set a “buy” rating for the company in a report on Thursday, February 28th. Finally, Canaccord Genuity cut their price objective on Dycom Industries from $84.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, February 28th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $76.80.

NYSE:DY traded up $2.73 during mid-day trading on Friday, hitting $51.71. 458,944 shares of the company traded hands, compared to its average volume of 536,213. Dycom Industries, Inc. has a one year low of $41.78 and a one year high of $117.40. The company has a debt-to-equity ratio of 1.08, a quick ratio of 3.52 and a current ratio of 3.85. The firm has a market capitalization of $1.54 billion, a PE ratio of 18.60, a P/E/G ratio of 2.99 and a beta of 1.45.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, February 27th. The construction company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.07). Dycom Industries had a net margin of 2.01% and a return on equity of 11.24%. The company had revenue of $748.62 million for the quarter, compared to the consensus estimate of $719.25 million. During the same period in the prior year, the firm posted $0.12 EPS. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts forecast that Dycom Industries, Inc. will post 2.55 earnings per share for the current fiscal year.

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Dycom Industries Profile

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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

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