Dana Investment Advisors Inc. Sells 3,646 Shares of Dycom Industries, Inc. $DY

Dana Investment Advisors Inc. cut its holdings in Dycom Industries, Inc. (NYSE:DY) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,575 shares of the construction company’s stock after selling 3,646 shares during the quarter. Dana Investment Advisors Inc. owned approximately 0.17% of Dycom Industries worth $14,464,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Leuthold Group LLC purchased a new stake in shares of Dycom Industries during the second quarter valued at about $3,762,000. Entropy Technologies LP raised its stake in shares of Dycom Industries by 378.1% during the 2nd quarter. Entropy Technologies LP now owns 7,826 shares of the construction company’s stock worth $1,913,000 after acquiring an additional 6,189 shares in the last quarter. Creative Planning lifted its position in Dycom Industries by 88.7% during the second quarter. Creative Planning now owns 12,195 shares of the construction company’s stock valued at $2,980,000 after acquiring an additional 5,731 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Dycom Industries by 7.8% in the second quarter. JPMorgan Chase & Co. now owns 131,312 shares of the construction company’s stock valued at $32,091,000 after acquiring an additional 9,531 shares in the last quarter. Finally, 12th Street Asset Management Company LLC grew its holdings in Dycom Industries by 48.9% in the third quarter. 12th Street Asset Management Company LLC now owns 67,238 shares of the construction company’s stock worth $19,617,000 after purchasing an additional 22,077 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Insider Buying and Selling

In related news, Director Eitan Gertel sold 3,645 shares of Dycom Industries stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $345.62, for a total transaction of $1,259,784.90. Following the completion of the transaction, the director directly owned 15,997 shares in the company, valued at approximately $5,528,883.14. This trade represents a 18.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. DA Davidson increased their price target on Dycom Industries from $300.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Guggenheim initiated coverage on shares of Dycom Industries in a research report on Thursday, January 22nd. They issued a “buy” rating and a $510.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Dycom Industries from $315.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Vertical Research initiated coverage on shares of Dycom Industries in a research note on Tuesday, December 23rd. They set a “buy” rating and a $420.00 price target on the stock. Finally, B. Riley Financial lifted their price target on Dycom Industries from $320.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Dycom Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $395.20.

Dycom Industries Trading Down 2.1%

NYSE DY opened at $420.78 on Tuesday. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $445.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.09 and a quick ratio of 2.90. The company has a market capitalization of $12.19 billion, a PE ratio of 41.42, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a fifty day moving average of $372.06 and a 200 day moving average of $319.86.

Dycom Industries Profile

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.