New York State Common Retirement Fund Boosts Holdings in Dycom Industries, Inc. (NYSE:DY)

New York State Common Retirement Fund raised its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 600.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 61,945 shares of the construction company’s stock after acquiring an additional 53,103 shares during the period. New York State Common Retirement Fund’s holdings in Dycom Industries were worth $10,782,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Accent Capital Management LLC purchased a new position in Dycom Industries during the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Dycom Industries during the 3rd quarter worth approximately $28,000. SOA Wealth Advisors LLC. purchased a new position in shares of Dycom Industries during the 3rd quarter valued at approximately $39,000. Westside Investment Management Inc. acquired a new position in shares of Dycom Industries in the 3rd quarter valued at $41,000. Finally, Anchor Investment Management LLC boosted its holdings in Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Insider Buying and Selling

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jennifer M. Fritzsche sold 430 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total value of $74,437.30. Following the completion of the sale, the director now owns 8,873 shares of the company’s stock, valued at $1,536,005.03. This trade represents a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.28% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. DA Davidson reiterated a “buy” rating and issued a $210.00 price objective on shares of Dycom Industries in a research report on Tuesday, November 19th. KeyCorp upped their price target on Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Raymond James increased their price target on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company boosted their price objective on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $208.88.

Dycom Industries Price Performance

Shares of Dycom Industries stock opened at $168.38 on Tuesday. The stock has a market capitalization of $4.91 billion, a P/E ratio of 22.16, a PEG ratio of 1.29 and a beta of 1.42. The business has a 50 day simple moving average of $182.08 and a two-hundred day simple moving average of $184.47. Dycom Industries, Inc. has a 12 month low of $118.00 and a 12 month high of $207.20. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93.

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.