Dycom Industries, Inc. (NYSE:DY) Stake Reduced by Public Sector Pension Investment Board

Public Sector Pension Investment Board lessened its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 3.6% in the third quarter, HoldingsChannel reports. The fund owned 61,684 shares of the construction company’s stock after selling 2,300 shares during the period. Public Sector Pension Investment Board’s holdings in Dycom Industries were worth $12,158,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in DY. Assenagon Asset Management S.A. boosted its position in Dycom Industries by 2,353.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock worth $26,831,000 after acquiring an additional 152,509 shares during the period. Renaissance Technologies LLC boosted its position in Dycom Industries by 2,543.6% during the 2nd quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company’s stock worth $17,399,000 after acquiring an additional 99,200 shares during the period. International Assets Investment Management LLC acquired a new position in Dycom Industries during the 3rd quarter worth $19,424,000. Millennium Management LLC boosted its position in Dycom Industries by 6.3% during the 2nd quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock worth $275,324,000 after acquiring an additional 96,846 shares during the period. Finally, Eagle Asset Management Inc. acquired a new position in Dycom Industries during the 3rd quarter worth $13,144,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Analyst Upgrades and Downgrades

DY has been the subject of a number of analyst reports. DA Davidson reiterated a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. KeyCorp upped their price objective on Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. B. Riley upped their price objective on Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their price objective on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Bank of America upped their price objective on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a report on Friday, August 23rd. One research 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. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $206.13.

Dycom Industries Stock Up 0.2 %

Shares of Dycom Industries stock opened at $180.67 on Friday. The stock’s fifty day moving average is $188.84 and its 200-day moving average is $179.94. The firm has a market capitalization of $5.27 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a 12-month low of $99.69 and a 12-month 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.