Dycom Industries, Inc. (NYSE:DY) Holdings Reduced by Prudential Financial Inc.

Prudential Financial Inc. reduced its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,499 shares of the construction company’s stock after selling 9,519 shares during the quarter. Prudential Financial Inc. owned about 0.20% of Dycom Industries worth $10,356,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its stake in Dycom Industries by 4.0% during the third quarter. State Street Corp now owns 1,158,585 shares of the construction company’s stock valued at $228,357,000 after buying an additional 44,321 shares in the last quarter. FMR LLC increased its holdings in shares of Dycom Industries by 2.4% in the 3rd quarter. FMR LLC now owns 772,666 shares of the construction company’s stock valued at $152,292,000 after purchasing an additional 17,862 shares during the period. Hill City Capital LP lifted its position in Dycom Industries by 2.3% in the 3rd quarter. Hill City Capital LP now owns 679,784 shares of the construction company’s stock worth $133,985,000 after buying an additional 15,000 shares in the last quarter. Principal Financial Group Inc. boosted its position in Dycom Industries by 4.3% during the third quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock valued at $131,278,000 after purchasing an additional 27,370 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Dycom Industries by 1.4% in the third quarter. Geode Capital Management LLC now owns 650,883 shares of the construction company’s stock worth $128,315,000 after buying an additional 9,113 shares during the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DY shares. Raymond James upped their target price on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 4th. KeyCorp decreased their price target on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, B. Riley dropped their target price on Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $204.38.

Dycom Industries Trading Down 0.3 %

Dycom Industries stock opened at $153.72 on Friday. The firm has a 50-day moving average of $171.10 and a 200-day moving average of $180.31. Dycom Industries, Inc. has a one year low of $133.00 and a one year high of $207.20. 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 company has a market cap of $4.45 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 1.29 and a beta of 1.34.

Dycom Industries declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at Dycom Industries

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $175.08, for a total value of $507,732.00. Following the completion of the sale, the director now owns 14,533 shares of the company’s stock, valued at approximately $2,544,437.64. The trade was a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.28% of the stock is currently owned by company insiders.

Dycom Industries 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.