Peregrine Capital Management LLC Sells 18,673 Shares of Dycom Industries, Inc. (NYSE:DY)

Peregrine Capital Management LLC trimmed its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 25.3% in the 4th quarter, Holdings Channel reports. The firm owned 55,236 shares of the construction company’s stock after selling 18,673 shares during the period. Peregrine Capital Management LLC’s holdings in Dycom Industries were worth $9,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Accent Capital Management LLC bought a new stake in Dycom Industries in the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Dycom Industries in the 3rd quarter worth $28,000. SOA Wealth Advisors LLC. bought a new stake in shares of Dycom Industries in the third quarter worth $39,000. Westside Investment Management Inc. bought a new position in Dycom Industries in the third quarter valued at about $41,000. Finally, Anchor Investment Management LLC lifted its holdings in Dycom Industries by 37.6% in the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock valued at $53,000 after acquiring an additional 73 shares during the period. Institutional investors own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. KeyCorp upped their price target on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Raymond James increased their price target on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 4th. DA Davidson reissued a “buy” rating and set a $210.00 price objective on shares of Dycom Industries in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company lifted their target price on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One equities research 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 data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $208.88.

Dycom Industries Trading Down 4.1 %

Shares of DY stock opened at $177.89 on Tuesday. The stock has a fifty day simple moving average of $182.74 and a two-hundred day simple moving average of $184.54. Dycom Industries, Inc. has a 52-week low of $112.50 and a 52-week high of $207.20. The firm has a market capitalization of $5.19 billion, a PE ratio of 23.41, a PEG ratio of 1.51 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12.

Insider Buying and Selling

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of the stock in a transaction dated Wednesday, December 18th. The shares were 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 owns 8,873 shares of the company’s stock, valued at $1,536,005.03. This represents a 4.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction dated Friday, January 10th. The stock was 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 directly owns 14,533 shares in the company, valued at $2,544,437.64. This trade represents a 16.64 % 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.

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.