Dycom Industries, Inc. (NYSE:DY) Short Interest Update

Dycom Industries, Inc. (NYSE:DY) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,740,000 shares, an increase of 29.9% from the December 15th total of 1,340,000 shares. Based on an average daily trading volume, of 439,300 shares, the short-interest ratio is currently 4.0 days. Currently, 6.2% of the company’s stock are short sold.

Insider Buying and Selling

In other news, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction that occurred 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 approximately $1,536,005.03. The trade was a 4.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $175.08, for a total value of $507,732.00. Following the sale, the director now directly owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. acquired a new position in shares of Dycom Industries in the 4th quarter valued at about $50,234,000. Renaissance Technologies LLC increased its holdings in Dycom Industries by 2,543.6% in the second quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company’s stock worth $17,399,000 after purchasing an additional 99,200 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Dycom Industries in the third quarter valued at approximately $19,424,000. Millennium Management LLC boosted its holdings in shares of 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 buying an additional 96,846 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Dycom Industries during the 3rd quarter worth approximately $13,144,000. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Trading Up 0.3 %

Shares of DY stock traded up $0.61 during trading hours on Friday, hitting $190.54. 408,348 shares of the company’s stock traded hands, compared to its average volume of 385,641. The stock has a market cap of $5.56 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 1.63 and a beta of 1.43. The stock’s 50 day simple moving average is $181.84 and its 200 day simple moving average is $182.50. 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 has a 12 month low of $109.87 and a 12 month high of $207.20.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. DA Davidson restated a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. KeyCorp raised their target price on shares of Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, 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 report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued 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 $206.38.

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.