Dycom Industries, Inc. (NYSE:DY) Director Peter T. Pruitt, Jr. Sells 2,900 Shares of Stock

Dycom Industries, Inc. (NYSE:DY) Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $175.08, for a total value of $507,732.00. Following the transaction, the director now directly owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Dycom Industries Trading Down 1.4 %

Shares of Dycom Industries stock opened at $176.54 on Friday. Dycom Industries, Inc. has a 52-week low of $109.87 and a 52-week high of $207.20. The firm has a market capitalization of $5.15 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.43. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The company’s fifty day moving average price is $181.40 and its two-hundred day moving average price is $181.84.

Institutional Trading of Dycom Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fulton Bank N.A. lifted its stake in Dycom Industries by 12.0% during the fourth quarter. Fulton Bank N.A. now owns 4,687 shares of the construction company’s stock worth $816,000 after purchasing an additional 502 shares during the period. Nordea Investment Management AB acquired a new position in shares of Dycom Industries in the 4th quarter worth approximately $1,171,000. JPMorgan Chase & Co. lifted its position in shares of Dycom Industries by 65.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock worth $15,831,000 after buying an additional 31,864 shares during the period. Principal Financial Group Inc. boosted its stake in Dycom Industries by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock valued at $131,278,000 after buying an additional 27,370 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Dycom Industries by 17.7% in the third quarter. Franklin Resources Inc. now owns 154,814 shares of the construction company’s stock valued at $29,237,000 after acquiring an additional 23,270 shares during the period. Institutional investors own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DY. DA Davidson reaffirmed a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. KeyCorp upped their target price on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Dycom Industries currently has an average rating of “Buy” and a consensus price target of $206.38.

About Dycom Industries

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.