Dycom Industries, Inc. (NYSE:DY) Shares Sold by Southernsun Asset Management LLC

Southernsun Asset Management LLC decreased its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 27.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 236,552 shares of the construction company's stock after selling 89,412 shares during the quarter. Dycom Industries comprises about 5.5% of Southernsun Asset Management LLC's holdings, making the stock its 6th largest position. Southernsun Asset Management LLC owned 0.81% of Dycom Industries worth $46,624,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. State Street Corp lifted 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 worth $228,357,000 after purchasing an additional 44,321 shares in the last quarter. Stifel Financial Corp boosted its holdings in Dycom Industries by 46.5% in the third quarter. Stifel Financial Corp now owns 20,232 shares of the construction company's stock worth $3,988,000 after purchasing an additional 6,418 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Dycom Industries during the 3rd quarter valued at about $101,000. Point72 Asset Management L.P. acquired a new stake in shares of Dycom Industries during the 3rd quarter worth approximately $12,223,000. Finally, Millburn Ridgefield Corp acquired a new stake in Dycom Industries in the third quarter worth $113,000. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Price Performance

Shares of DY stock traded up $1.67 during trading hours on Friday, hitting $195.87. The company had a trading volume of 85,379 shares, compared to its average volume of 304,203. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 1.55 and a beta of 1.41. Dycom Industries, Inc. has a 12 month low of $105.67 and a 12 month high of $207.20. The firm's fifty day moving average is $187.88 and its 200 day moving average is $181.32.

Wall Street Analysts Forecast Growth

DY has been the topic of a number of research analyst reports. Bank of America lifted their target price on Dycom Industries from $198.00 to $204.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. B. Riley boosted their target price on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, August 22nd. Wells Fargo & Company lifted their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. DA Davidson reissued a "buy" rating and issued a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. Finally, KeyCorp upped their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently 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.