Teacher Retirement System of Texas Sells 9,659 Shares of Dycom Industries, Inc. (NYSE:DY)

Teacher Retirement System of Texas trimmed its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 41.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,567 shares of the construction company's stock after selling 9,659 shares during the quarter. Teacher Retirement System of Texas' holdings in Dycom Industries were worth $2,361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Stifel Financial Corp increased its stake in shares of Dycom Industries by 46.5% in the 3rd quarter. Stifel Financial Corp now owns 20,232 shares of the construction company's stock valued at $3,988,000 after buying an additional 6,418 shares during the period. Nordea Investment Management AB bought a new position in Dycom Industries in the fourth quarter valued at about $1,171,000. JPMorgan Chase & Co. increased its position in Dycom Industries by 65.8% in the third quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company's stock worth $15,831,000 after purchasing an additional 31,864 shares during the period. Principal Financial Group Inc. raised its holdings in 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. Finally, Smartleaf Asset Management LLC lifted its position in Dycom Industries by 209.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company's stock valued at $68,000 after purchasing an additional 264 shares during the period. Institutional investors and hedge funds own 98.33% of the company's stock.

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Insider Buying and Selling

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $175.08, for a total value of $507,732.00. Following the sale, the director now owns 14,533 shares in the company, valued at approximately $2,544,437.64. The trade was a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.28% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DY shares. KeyCorp lowered their price target on shares of Dycom Industries from $229.00 to $201.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Raymond James increased their price target on shares of Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research report on Tuesday, February 4th. Finally, B. Riley decreased their price objective on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Dycom Industries currently has an average rating of "Buy" and an average target price of $204.38.

Dycom Industries Stock Down 0.3 %

DY stock traded down $0.43 during mid-day trading on Friday, hitting $153.72. 214,427 shares of the company were exchanged, compared to its average volume of 380,827. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. Dycom Industries, Inc. has a 1-year low of $133.00 and a 1-year high of $207.20. The firm's 50 day simple moving average is $171.10 and its 200 day simple moving average is $180.29. The firm has a market cap of $4.45 billion, a P/E ratio of 20.23, a P/E/G ratio of 1.29 and a beta of 1.34.

Dycom Industries announced that its Board of Directors has approved a share buyback program on Wednesday, February 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Dycom Industries 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.