New York State Teachers Retirement System Trims Stock Position in Dycom Industries, Inc. (NYSE:DY)

New York State Teachers Retirement System lowered its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,963 shares of the construction company’s stock after selling 200 shares during the quarter. New York State Teachers Retirement System’s holdings in Dycom Industries were worth $6,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DY. CWM LLC increased its holdings in Dycom Industries by 51.7% in the 3rd quarter. CWM LLC now owns 531 shares of the construction company’s stock worth $105,000 after acquiring an additional 181 shares in the last quarter. Creative Planning increased its position in Dycom Industries by 19.2% in the third quarter. Creative Planning now owns 6,560 shares of the construction company’s stock worth $1,293,000 after purchasing an additional 1,055 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in Dycom Industries in the third quarter worth $261,000. Alexander Labrunerie & CO. Inc. bought a new stake in Dycom Industries in the third quarter worth $206,000. Finally, International Assets Investment Management LLC bought a new stake in Dycom Industries in the third quarter worth $19,424,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the transaction, the director now owns 14,533 shares in the company, valued at $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 dated Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the transaction, the director now owns 8,873 shares in the company, valued at approximately $1,536,005.03. This trade represents a 4.62 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is currently owned by corporate insiders.

Dycom Industries Stock Performance

DY stock opened at $180.62 on Thursday. The company has a market capitalization of $5.27 billion, a P/E ratio of 23.77, a PEG ratio of 1.34 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The business has a 50-day moving average price of $182.65 and a 200 day moving average price of $184.53. Dycom Industries, Inc. has a 1-year low of $112.50 and a 1-year high of $207.20.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DY shares. DA Davidson reaffirmed a “buy” rating and set a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday, November 19th. Wells Fargo & Company boosted their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. KeyCorp boosted their target price on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Finally, Raymond James boosted their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 4th. 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 company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $208.88.

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.