Salem Investment Counselors Inc. Sells 817 Shares of Dycom Industries, Inc. (NYSE:DY)

Salem Investment Counselors Inc. lowered its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 4.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,970 shares of the construction company’s stock after selling 817 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Dycom Industries were worth $2,954,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC bought a new position in shares of Dycom Industries during the 2nd quarter valued at approximately $1,191,000. American Century Companies Inc. boosted its stake in Dycom Industries by 32.0% during the second quarter. American Century Companies Inc. now owns 17,547 shares of the construction company’s stock worth $2,961,000 after buying an additional 4,255 shares during the period. Thoroughbred Financial Services LLC bought a new position in Dycom Industries during the second quarter valued at $285,000. Renaissance Technologies LLC raised its stake in shares of 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 acquiring an additional 99,200 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of Dycom Industries by 193.7% in the 2nd quarter. Hsbc Holdings PLC now owns 7,819 shares of the construction company’s stock worth $1,317,000 after acquiring an additional 5,157 shares during the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’s stock in a transaction on Friday, January 10th. The stock was 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 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total value of $74,437.30. Following the completion of the transaction, the director now 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. Company insiders own 4.28% of the company’s stock.

Dycom Industries Stock Down 0.2 %

Shares of NYSE DY opened at $176.08 on Tuesday. Dycom Industries, Inc. has a 52-week low of $109.87 and a 52-week high of $207.20. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.45 and a beta of 1.43. The stock has a 50 day moving average price of $181.42 and a 200 day moving average price of $182.11. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12.

Analyst Ratings Changes

Several equities analysts recently commented on DY shares. KeyCorp upped their price target on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. 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 research note on Friday, November 15th. Finally, DA Davidson reissued a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $206.38.

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.