Teacher Retirement System of Texas Has $2.36 Million Stock Position in Dycom Industries, Inc. (NYSE:DY)

Teacher Retirement System of Texas trimmed its position in Dycom Industries, Inc. (NYSE:DY) by 41.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,567 shares of the construction company’s stock after selling 9,659 shares during the quarter. Teacher Retirement System of Texas’ holdings in Dycom Industries were worth $2,361,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Dycom Industries by 81.5% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 49,985 shares of the construction company’s stock worth $8,707,000 after buying an additional 22,450 shares during the last quarter. Xponance Inc. raised its holdings in shares of Dycom Industries by 8.8% in the 4th quarter. Xponance Inc. now owns 2,047 shares of the construction company’s stock worth $356,000 after acquiring an additional 166 shares during the last quarter. Intech Investment Management LLC lifted its position in Dycom Industries by 74.0% in the 4th quarter. Intech Investment Management LLC now owns 13,386 shares of the construction company’s stock valued at $2,330,000 after acquiring an additional 5,694 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Dycom Industries by 10.1% during the 4th quarter. Advisors Asset Management Inc. now owns 41,758 shares of the construction company’s stock valued at $7,268,000 after purchasing an additional 3,847 shares during the last quarter. Finally, Cibc World Markets Corp bought a new stake in Dycom Industries during the 4th quarter worth approximately $462,000. 98.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on DY. Raymond James lifted their target price on Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Tuesday, February 4th. KeyCorp cut their price objective on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, B. Riley lowered their target price on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Dycom Industries has a consensus rating of “Buy” and an average target price of $204.38.

Dycom Industries Stock Performance

Shares of DY stock opened at $157.95 on Thursday. Dycom Industries, Inc. has a 52 week low of $133.00 and a 52 week high of $207.20. The firm’s 50-day simple moving average is $172.54 and its two-hundred day simple moving average is $180.66. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 1.29 and a beta of 1.34. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12.

Dycom Industries announced that its board has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Dycom Industries

In related news, 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 sale, the director now directly owns 14,533 shares in the company, valued at approximately $2,544,437.64. The trade was a 16.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.28% of the stock is owned by company insiders.

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.