Principal Financial Group Inc. increased its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 666,051 shares of the construction company's stock after acquiring an additional 27,370 shares during the quarter. Principal Financial Group Inc. owned about 2.28% of Dycom Industries worth $131,278,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Accent Capital Management LLC purchased a new position in shares of Dycom Industries in the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Dycom Industries in the 3rd quarter worth approximately $28,000. Annapolis Financial Services LLC purchased a new stake in shares of Dycom Industries in the 3rd quarter valued at $29,000. Anchor Investment Management LLC grew its holdings in shares of Dycom Industries by 50.4% during 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 during the last quarter. Finally, SOA Wealth Advisors LLC. purchased a new position in Dycom Industries in the 3rd quarter worth $39,000. Institutional investors and hedge funds own 98.33% of the company's stock.
Dycom Industries Stock Up 2.6 %
Shares of NYSE DY opened at $173.76 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a 12 month low of $107.53 and a 12 month high of $207.20. The firm has a fifty day simple moving average of $185.18 and a two-hundred day simple moving average of $181.69. The firm has a market capitalization of $5.07 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 1.45 and a beta of 1.41.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. DA Davidson reaffirmed a "buy" rating and set a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday, November 19th. Bank of America lifted their price target on Dycom Industries from $198.00 to $204.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Wells Fargo & Company raised their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Finally, KeyCorp upped their price target on shares of Dycom Industries from $200.00 to $227.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Dycom Industries has an average rating of "Buy" and a consensus price target of $206.13.
Get Our Latest Stock Report on Dycom Industries
Insider Activity
In related news, Director Jennifer M. Fritzsche sold 430 shares of the business's 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 transaction, the director now directly owns 8,873 shares in the company, valued at approximately $1,536,005.03. The trade was a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.28% of the company's stock.
About Dycom Industries
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Free Report)
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.
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