BNP Paribas Financial Markets Sells 7,294 Shares of Dycom Industries, Inc. (NYSE:DY)

BNP Paribas Financial Markets lessened its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 31.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,759 shares of the construction company's stock after selling 7,294 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.05% of Dycom Industries worth $3,106,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DY. Assenagon Asset Management S.A. increased its holdings in Dycom Industries by 2,353.9% during the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company's stock worth $26,831,000 after buying an additional 152,509 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Dycom Industries by 2,543.6% in the 2nd quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company's stock worth $17,399,000 after purchasing an additional 99,200 shares during the period. International Assets Investment Management LLC purchased a new position in Dycom Industries during the third quarter valued at approximately $19,424,000. Millennium Management LLC grew its position in shares of Dycom Industries by 6.3% during the 2nd quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company's stock valued at $275,324,000 after purchasing an additional 96,846 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Dycom Industries in the 3rd quarter worth $13,144,000. Hedge funds and other institutional investors own 98.33% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DY. B. Riley raised their price objective on Dycom Industries from $205.00 to $208.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. Wells Fargo & Company lifted their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. DA Davidson reaffirmed a "buy" rating and set a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday, November 19th. Bank of America raised their price target 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, KeyCorp boosted their target price on shares of Dycom Industries from $200.00 to $227.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. One equities research 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 data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $206.13.

Dycom Industries Stock Down 0.8 %

Shares of NYSE DY traded down $1.59 during trading on Friday, reaching $192.61. The company had a trading volume of 328,723 shares, compared to its average volume of 305,272. Dycom Industries, Inc. has a 12-month low of $105.67 and a 12-month high of $207.20. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The business's 50-day moving average is $187.87 and its 200 day moving average is $181.61. The stock has a market cap of $5.62 billion, a PE ratio of 25.34, a P/E/G ratio of 1.55 and a beta of 1.41.

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.