Principal Financial Group Inc. Has $131.28 Million Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

Principal Financial Group Inc. raised its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 4.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 666,051 shares of the construction company's stock after purchasing an additional 27,370 shares during the quarter. Principal Financial Group Inc. owned 2.29% of Dycom Industries worth $131,278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Radnor Capital Management LLC acquired a new position in shares of Dycom Industries in the 3rd quarter worth approximately $3,041,000. Asset Management One Co. Ltd. acquired a new position in shares of Dycom Industries in the 3rd quarter worth approximately $3,219,000. Mariner Investment Group LLC acquired a new position in shares of Dycom Industries in the 3rd quarter worth approximately $507,000. Pinnacle Associates Ltd. boosted its holdings in shares of Dycom Industries by 2.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 65,464 shares of the construction company's stock worth $12,903,000 after acquiring an additional 1,617 shares in the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in shares of Dycom Industries in the 3rd quarter worth approximately $214,000. 98.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on DY. StockNews.com downgraded Dycom Industries from a "buy" rating to a "hold" rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price objective on shares of Dycom Industries from $185.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 17th. B. Riley boosted their price objective on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, August 22nd. Bank of America boosted their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. Finally, KeyCorp boosted their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Dycom Industries currently has a consensus rating of "Buy" and a consensus target price of $203.43.

Dycom Industries Trading Up 6.7 %

Shares of Dycom Industries stock traded up $11.84 on Friday, hitting $189.63. 900,248 shares of the company's stock traded hands, compared to its average volume of 334,017. The firm's 50-day moving average price is $187.16 and its two-hundred day moving average price is $176.10. The stock has a market capitalization of $5.52 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.48 and a beta of 1.44. Dycom Industries, Inc. has a one year low of $80.99 and a one year high of $207.20. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25.

Dycom Industries (NYSE:DY - Get Free Report) last released its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.20. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the company earned $2.03 EPS. The firm's quarterly revenue was up 15.5% on a year-over-year basis. On average, research analysts expect that Dycom Industries, Inc. will post 8.02 EPS for the current fiscal 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.