Parallel Advisors LLC Trims Holdings in Dycom Industries, Inc. (NYSE:DY)

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Parallel Advisors LLC cut its holdings in Dycom Industries, Inc. (NYSE:DY) by 32.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 551 shares of the construction company’s stock after selling 264 shares during the quarter. Parallel Advisors LLC’s holdings in Dycom Industries were worth $32,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new stake in Dycom Industries during the 2nd quarter valued at about $58,000. Pearl River Capital LLC purchased a new stake in Dycom Industries during the 1st quarter valued at about $138,000. SG Americas Securities LLC purchased a new stake in Dycom Industries during the 1st quarter valued at about $165,000. Sheets Smith Wealth Management purchased a new stake in Dycom Industries during the 2nd quarter valued at about $207,000. Finally, Howe & Rusling Inc. grew its position in Dycom Industries by 1,219.4% during the 1st quarter. Howe & Rusling Inc. now owns 4,829 shares of the construction company’s stock valued at $222,000 after purchasing an additional 4,463 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

DY traded up $2.62 during midday trading on Wednesday, hitting $43.82. 233,586 shares of the company traded hands, compared to its average volume of 365,616. The company has a quick ratio of 3.14, a current ratio of 3.45 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $1.27 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 2.10 and a beta of 1.31. The company’s 50-day moving average is $50.31 and its 200 day moving average is $51.66. Dycom Industries, Inc. has a 52 week low of $40.06 and a 52 week high of $85.65.

Several brokerages recently commented on DY. Canaccord Genuity cut their price objective on shares of Dycom Industries from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. They noted that the move was a valuation call. B. Riley upped their target price on shares of Dycom Industries from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Zacks Investment Research upgraded shares of Dycom Industries from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. ValuEngine cut shares of Dycom Industries from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. Finally, Craig Hallum restated an “in-line” rating and set a $65.00 target price (up previously from $51.00) on shares of Dycom Industries in a research note on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $62.13.

Dycom Industries Company 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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