34,215 Shares in Dycom Industries, Inc. (NYSE:DY) Acquired by Empowered Funds LLC

Empowered Funds LLC acquired a new stake in shares of Dycom Industries, Inc. (NYSE:DY) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 34,215 shares of the construction company’s stock, valued at approximately $5,955,000.

A number of other large investors have also bought and sold shares of DY. Hennessy Advisors Inc. purchased a new position in shares of Dycom Industries during the 4th quarter valued at $50,234,000. International Assets Investment Management LLC purchased a new stake in Dycom Industries during the third quarter valued at about $19,424,000. Eagle Asset Management Inc. bought a new position in Dycom Industries during the third quarter worth about $13,144,000. ARS Investment Partners LLC purchased a new position in shares of Dycom Industries in the fourth quarter worth about $11,935,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Dycom Industries in the third quarter valued at approximately $12,223,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on DY. DA Davidson reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Dycom Industries in a report on Tuesday, November 19th. Wells Fargo & Company raised their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Raymond James boosted their price objective on Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, KeyCorp raised their target price on Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. One investment 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’s stock. Based on data from MarketBeat.com, Dycom Industries currently has a consensus rating of “Buy” and a consensus target price of $208.88.

Insider Activity

In other news, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the sale, the director now directly owns 8,873 shares of the company’s stock, valued at approximately $1,536,005.03. The trade was a 4.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $175.08, for a total value of $507,732.00. Following the completion of the transaction, the director now directly owns 14,533 shares in the company, valued at approximately $2,544,437.64. This represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.28% of the company’s stock.

Dycom Industries Price Performance

NYSE:DY opened at $200.33 on Tuesday. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 1.51 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The stock has a fifty day moving average of $183.36 and a 200 day moving average of $184.37. Dycom Industries, Inc. has a 52-week low of $112.17 and a 52-week high of $207.20.

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.