New York State Common Retirement Fund Buys 53,103 Shares of Dycom Industries, Inc. (NYSE:DY)

New York State Common Retirement Fund grew its stake in Dycom Industries, Inc. (NYSE:DY) by 600.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,945 shares of the construction company’s stock after acquiring an additional 53,103 shares during the period. New York State Common Retirement Fund owned 0.21% of Dycom Industries worth $10,782,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Creative Planning increased its stake in shares of Dycom Industries by 19.2% during the third quarter. Creative Planning now owns 6,560 shares of the construction company’s stock valued at $1,293,000 after buying an additional 1,055 shares during the period. International Assets Investment Management LLC purchased a new position in Dycom Industries during the 3rd quarter valued at about $19,424,000. First Trust Direct Indexing L.P. bought a new stake in shares of Dycom Industries in the 3rd quarter valued at about $214,000. Pinnacle Associates Ltd. lifted its position in shares of Dycom Industries by 2.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 65,464 shares of the construction company’s stock worth $12,903,000 after purchasing an additional 1,617 shares during the period. Finally, Mariner Investment Group LLC bought a new position in shares of Dycom Industries during the third quarter valued at approximately $507,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Price Performance

Shares of DY stock opened at $168.38 on Tuesday. Dycom Industries, Inc. has a fifty-two week low of $118.00 and a fifty-two week high of $207.20. 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 $4.91 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.29 and a beta of 1.42. The stock’s 50-day simple moving average is $182.08 and its 200-day simple moving average is $184.47.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. DA Davidson restated a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. Raymond James upped their price objective on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, February 4th. KeyCorp lifted their target price on Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company raised their price target on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One 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 company. Based on data from MarketBeat, Dycom Industries presently has an average rating of “Buy” and a consensus price target of $208.88.

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.