Public Sector Pension Investment Board Reduces Stock Position in Dycom Industries, Inc. (NYSE:DY)

Public Sector Pension Investment Board lessened its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,684 shares of the construction company’s stock after selling 2,300 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.21% of Dycom Industries worth $12,158,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Accent Capital Management LLC acquired a new position in shares of Dycom Industries in the 3rd quarter valued at about $25,000. Annapolis Financial Services LLC acquired a new position in shares of Dycom Industries in the 3rd quarter valued at about $29,000. Anchor Investment Management LLC lifted its stake in shares of Dycom Industries by 50.4% in the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Dycom Industries by 107.8% in the 2nd quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock valued at $49,000 after purchasing an additional 152 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Dycom Industries by 25.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock valued at $57,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Price Performance

Shares of NYSE DY opened at $180.67 on Friday. Dycom Industries, Inc. has a twelve month low of $99.69 and a twelve month 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. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44. The business has a 50 day simple moving average of $188.84 and a 200-day simple moving average of $179.94.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Bank of America lifted their price objective on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. DA Davidson reissued a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. Wells Fargo & Company boosted their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. KeyCorp boosted their price target on Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, B. Riley boosted their price target on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $206.13.

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.