JPMorgan Chase & Co. Acquires 31,864 Shares of Dycom Industries, Inc. (NYSE:DY)

JPMorgan Chase & Co. raised its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 65.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,320 shares of the construction company's stock after purchasing an additional 31,864 shares during the period. JPMorgan Chase & Co. owned 0.28% of Dycom Industries worth $15,831,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Dycom Industries by 4.3% during the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company's stock worth $131,278,000 after purchasing an additional 27,370 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Dycom Industries by 17.7% during the third quarter. Franklin Resources Inc. now owns 154,814 shares of the construction company's stock worth $29,237,000 after buying an additional 23,270 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Dycom Industries during the third quarter worth approximately $100,000. Anchor Investment Management LLC boosted its position in shares of 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. Finally, SOA Wealth Advisors LLC. acquired a new stake in shares of Dycom Industries in the third quarter worth $39,000. Institutional investors own 98.33% of the company's stock.

Insider Activity

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the completion of the transaction, the director now directly owns 14,533 shares of the company's stock, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jennifer M. Fritzsche sold 430 shares of the company's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total transaction of $74,437.30. Following the sale, the director now directly owns 8,873 shares in the company, valued at $1,536,005.03. This represents a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.28% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on DY shares. DA Davidson reiterated a "buy" rating and set a $210.00 target price on shares of Dycom Industries in a research note on Tuesday, November 19th. KeyCorp upped their price objective on shares of Dycom Industries from $227.00 to $229.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted their target price on Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $206.38.

Dycom Industries Price Performance

NYSE:DY traded down $2.46 during mid-day trading on Friday, hitting $176.54. The company's stock had a trading volume of 334,199 shares, compared to its average volume of 506,398. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 23.23, a P/E/G ratio of 1.45 and a beta of 1.43. 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 fifty-two week low of $109.87 and a fifty-two week high of $207.20. The stock has a fifty day moving average of $181.42 and a 200-day moving average of $182.00.

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.