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 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 sale, the director now directly owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Dycom Industries Stock Down 1.4 %

DY stock opened at $176.54 on Friday. The company has a market cap of $5.15 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.43. The business has a 50-day simple moving average of $181.42 and a 200 day simple moving average of $182.00. Dycom Industries, Inc. has a 52 week low of $109.87 and a 52 week high of $207.20. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DY. Renaissance Technologies LLC raised its stake in Dycom Industries by 2,543.6% in the second quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company’s stock valued at $17,399,000 after purchasing an additional 99,200 shares in the last quarter. International Assets Investment Management LLC bought a new position in Dycom Industries in the third quarter valued at about $19,424,000. Millennium Management LLC grew its position in Dycom Industries by 6.3% in the second quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock valued at $275,324,000 after acquiring an additional 96,846 shares during the last quarter. Eagle Asset Management Inc. bought a new position in Dycom Industries in the third quarter valued at about $13,144,000. Finally, Point72 Asset Management L.P. bought a new position in Dycom Industries in the third quarter valued at about $12,223,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their price target on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. KeyCorp lifted their target price on Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, DA Davidson reissued a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. One investment 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $206.38.

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.