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 business’s stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through the SEC website.

Dycom Industries Stock Down 1.4 %

NYSE DY traded down $2.46 on Friday, hitting $176.54. 334,199 shares of the stock traded hands, compared to its average volume of 297,867. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a twelve month low of $109.87 and a twelve month high of $207.20. The stock has a 50-day moving average of $181.40 and a 200 day moving average of $181.84. The company has a market capitalization of $5.15 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.43.

Institutional Trading of Dycom Industries

Hedge funds have recently bought and sold shares of the company. Accent Capital Management LLC acquired a new position in shares of Dycom Industries during the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in Dycom Industries in the 3rd quarter valued at approximately $28,000. Annapolis Financial Services LLC acquired a new stake in shares of Dycom Industries during the 3rd quarter valued at about $29,000. Anchor Investment Management LLC increased its stake in shares of Dycom Industries by 50.4% during the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock worth $33,000 after purchasing an additional 65 shares during the last quarter. Finally, SOA Wealth Advisors LLC. acquired a new stake in shares of Dycom Industries in the third quarter worth about $39,000. 98.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DY shares. KeyCorp lifted their price objective on shares of Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday. DA Davidson reissued a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th. Finally, Wells Fargo & Company upped their target price on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price 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.