Glenmede Trust Co. NA Sells 1,593 Shares of Dycom Industries, Inc. (NYSE:DY)

Glenmede Trust Co. NA reduced its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,832 shares of the construction company’s stock after selling 1,593 shares during the quarter. Glenmede Trust Co. NA owned 0.41% of Dycom Industries worth $23,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. FMR LLC lifted its position in Dycom Industries by 2.4% during the third 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. The Manufacturers Life Insurance Company increased its stake in shares of Dycom Industries by 3.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,521 shares of the construction company’s stock worth $4,045,000 after purchasing an additional 614 shares in the last quarter. Citigroup Inc. lifted its position in Dycom Industries by 79.6% during the third quarter. Citigroup Inc. now owns 38,289 shares of the construction company’s stock valued at $7,547,000 after purchasing an additional 16,966 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in Dycom Industries during the third quarter valued at about $13,144,000. Finally, Foundry Partners LLC increased its position in Dycom Industries by 53.1% in the third quarter. Foundry Partners LLC now owns 2,906 shares of the construction company’s stock worth $573,000 after buying an additional 1,008 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Price Performance

Dycom Industries stock opened at $180.67 on Thursday. Dycom Industries, Inc. has a 52-week low of $99.69 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 firm’s fifty day moving average is $189.03 and its 200 day moving average is $179.94. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 1.47 and a beta of 1.44.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. B. Riley boosted their price objective on Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. DA Davidson reiterated a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. Wells Fargo & Company raised their price objective 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. Bank of America upped their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, KeyCorp boosted their price objective on Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. One equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $206.13.

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.