Dycom Industries, Inc. (NYSE:DY) Position Cut by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 630,492 shares of the construction company’s stock after selling 35,559 shares during the quarter. Principal Financial Group Inc.’s holdings in Dycom Industries were worth $109,744,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp raised its stake in shares of 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 purchasing an additional 44,321 shares in the last quarter. FMR LLC raised its stake in shares of 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 in the last quarter. Hill City Capital LP raised its stake in shares of Dycom Industries by 2.3% during the third quarter. Hill City Capital LP now owns 679,784 shares of the construction company’s stock valued at $133,985,000 after purchasing an additional 15,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in Dycom Industries by 1.4% during the third quarter. Geode Capital Management LLC now owns 650,883 shares of the construction company’s stock worth $128,315,000 after acquiring an additional 9,113 shares during the period. Finally, Hennessy Advisors Inc. acquired a new position in Dycom Industries during the fourth quarter worth about $50,234,000. 98.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction dated 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 directly owns 14,533 shares in the company, valued at approximately $2,544,437.64. This trade represents a 16.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total value of $74,437.30. Following the sale, the director now owns 8,873 shares of the company’s stock, valued at $1,536,005.03. The trade was a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DY has been the topic of a number of research analyst reports. Raymond James lifted their target price on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 4th. DA Davidson reaffirmed a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. Wells Fargo & Company lifted their target price on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, KeyCorp lifted their target price on Dycom Industries from $227.00 to $229.00 and gave the stock 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $208.88.

Dycom Industries Trading Down 1.8 %

Shares of DY opened at $174.91 on Wednesday. The business’s 50-day moving average price is $182.74 and its 200 day moving average price is $184.54. The stock has a market capitalization of $5.10 billion, a P/E ratio of 23.01, a P/E/G ratio of 1.51 and a beta of 1.42. Dycom Industries, Inc. has a 1-year low of $112.50 and a 1-year high of $207.20. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89.

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.