Transform Wealth LLC Takes Position in Dycom Industries, Inc. (NYSE:DY)

Transform Wealth LLC purchased a new position in shares of Dycom Industries, Inc. (NYSE:DY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,750 shares of the construction company’s stock, valued at approximately $479,000.

Other hedge funds also recently added to or reduced their stakes in the company. Accent Capital Management LLC bought a new position in shares of Dycom Industries during the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in Dycom Industries in the 3rd quarter valued at $28,000. Annapolis Financial Services LLC bought a new position in Dycom Industries in the 3rd quarter valued at $29,000. Anchor Investment Management LLC lifted its position in shares of Dycom Industries by 50.4% during the second 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. bought a new stake in shares of Dycom Industries during the third quarter worth $39,000. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Stock Performance

Shares of DY stock opened at $194.37 on Wednesday. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 1.76 and a beta of 1.43. 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. The company’s 50 day moving average is $181.89 and its 200 day moving average is $182.97.

Wall Street Analysts Forecast Growth

DY has been the topic of several recent analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. Wells Fargo & Company lifted their price target 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. Finally, KeyCorp boosted their price target on Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Dycom Industries currently has a consensus rating of “Buy” and a consensus price target of $206.38.

Insider Buying and Selling at Dycom Industries

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the completion of the sale, the director now owns 14,533 shares of the company’s stock, 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 at this link. Also, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the transaction, the director now directly owns 8,873 shares in the company, valued at $1,536,005.03. This represents a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.28% of the company’s stock.

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.