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

Dycom Industries, Inc. (NYSE:DY) Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the completion of the sale, the director now owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Dycom Industries Price Performance

Shares of DY opened at $176.54 on Monday. Dycom Industries, Inc. has a twelve month low of $109.87 and a twelve month high of $207.20. The company has a market capitalization of $5.15 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.43. The firm has a 50 day moving average of $181.42 and a 200 day moving average of $182.00. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89.

Analysts Set New Price Targets

A number of research firms have recently commented on DY. DA Davidson restated a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a research note on Tuesday, November 19th. Wells Fargo & Company upped their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, KeyCorp lifted their price target on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $206.38.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Fulton Bank N.A. raised its position in Dycom Industries by 12.0% in the 4th quarter. Fulton Bank N.A. now owns 4,687 shares of the construction company’s stock worth $816,000 after buying an additional 502 shares during the last quarter. Nordea Investment Management AB purchased a new stake in Dycom Industries in the fourth quarter worth approximately $1,171,000. JPMorgan Chase & Co. grew its position in Dycom Industries by 65.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock worth $15,831,000 after purchasing an additional 31,864 shares during the period. Principal Financial Group Inc. raised its stake in Dycom Industries by 4.3% during 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 during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Dycom Industries by 17.7% during the 3rd quarter. Franklin Resources Inc. now owns 154,814 shares of the construction company’s stock valued at $29,237,000 after buying an additional 23,270 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

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.