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

Dycom Industries, Inc. (NYSE:DY) Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the sale, the director now owns 14,533 shares in the company, 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 SEC, which is accessible through this link.

Dycom Industries Price Performance

Shares of DY opened at $176.54 on Friday. The stock has a market capitalization of $5.15 billion, a P/E ratio of 23.23, a P/E/G ratio of 1.45 and a beta of 1.43. Dycom Industries, Inc. has a twelve month low of $109.87 and a twelve month high of $207.20. The company 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.

Hedge Funds Weigh In On Dycom Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fulton Bank N.A. grew its stake in shares of Dycom Industries by 12.0% in the fourth quarter. Fulton Bank N.A. now owns 4,687 shares of the construction company’s stock valued at $816,000 after buying an additional 502 shares in the last quarter. Nordea Investment Management AB bought a new position in shares of Dycom Industries in the fourth quarter valued at $1,171,000. JPMorgan Chase & Co. grew its stake in shares of Dycom Industries by 65.8% in the third quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock valued at $15,831,000 after buying an additional 31,864 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Dycom Industries by 4.3% in the third 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 stake in shares of 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 buying an additional 23,270 shares in the last quarter. 98.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

DY has been the topic of several research analyst reports. DA Davidson restated a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. KeyCorp raised their target price on shares of Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company raised their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $206.38.

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.