Citigroup Inc. Trims Stake in Dycom Industries, Inc. $DY

Citigroup Inc. lessened its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 48.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,612 shares of the construction company’s stock after selling 18,762 shares during the period. Citigroup Inc. owned about 0.07% of Dycom Industries worth $5,722,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DY. Root Financial Partners LLC bought a new stake in shares of Dycom Industries during the 3rd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Dycom Industries in the second quarter worth $32,000. Salomon & Ludwin LLC bought a new stake in shares of Dycom Industries during the third quarter worth $37,000. UMB Bank n.a. lifted its position in shares of Dycom Industries by 57.3% during the third quarter. UMB Bank n.a. now owns 129 shares of the construction company’s stock worth $38,000 after purchasing an additional 47 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Dycom Industries by 73.1% during the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after purchasing an additional 68 shares during the period. Institutional investors own 98.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DY shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Dycom Industries in a report on Wednesday, January 21st. Guggenheim initiated coverage on Dycom Industries in a report on Thursday, January 22nd. They issued a “buy” rating and a $510.00 price target for the company. Bank of America increased their price objective on Dycom Industries from $365.00 to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Wells Fargo & Company lifted their target price on Dycom Industries from $315.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Finally, JPMorgan Chase & Co. upped their target price on Dycom Industries from $370.00 to $395.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Dycom Industries currently has a consensus rating of “Moderate Buy” and an average price target of $406.20.

Dycom Industries Stock Down 3.8%

Dycom Industries stock opened at $402.61 on Wednesday. The company has a quick ratio of 2.90, a current ratio of 3.09 and a debt-to-equity ratio of 0.62. The firm has a market cap of $11.66 billion, a P/E ratio of 39.63, a P/E/G ratio of 1.38 and a beta of 1.34. The business has a fifty day moving average of $380.94 and a two-hundred day moving average of $325.99. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $445.52.

Insider Buying and Selling at Dycom Industries

In other news, Director Eitan Gertel sold 3,645 shares of Dycom Industries stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $345.62, for a total value of $1,259,784.90. Following the transaction, the director owned 15,997 shares of the company’s stock, valued at $5,528,883.14. The trade was a 18.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.72% of the company’s stock.

About Dycom Industries

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.