Quadrature Capital Ltd Sells 4,815 Shares of Dycom Industries, Inc. (NYSE:DY)

Quadrature Capital Ltd cut its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 54.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,978 shares of the construction company's stock after selling 4,815 shares during the period. Quadrature Capital Ltd's holdings in Dycom Industries were worth $784,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in shares of Dycom Industries by 2,353.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company's stock worth $26,831,000 after acquiring an additional 152,509 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Dycom Industries by 2,543.6% during the second quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company's stock valued at $17,399,000 after purchasing an additional 99,200 shares during the period. International Assets Investment Management LLC purchased a new stake in Dycom Industries in the third quarter worth about $19,424,000. Millennium Management LLC raised its stake in shares of Dycom Industries by 6.3% in the second quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company's stock worth $275,324,000 after buying an additional 96,846 shares during the period. Finally, Eagle Asset Management Inc. bought a new position in shares of Dycom Industries during the 3rd quarter valued at approximately $13,144,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Price Performance

Dycom Industries stock traded down $1.59 during midday trading on Friday, reaching $192.61. 328,723 shares of the stock traded hands, compared to its average volume of 531,262. The stock has a market cap of $5.62 billion, a P/E ratio of 25.34, a PEG ratio of 1.58 and a beta of 1.41. The stock's fifty day moving average is $187.87 and its 200-day moving average is $181.80. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a 12 month low of $105.67 and a 12 month high of $207.20.

Analyst Ratings Changes

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