Algert Global LLC Sells 6,760 Shares of Dycom Industries, Inc. (NYSE:DY)

Algert Global LLC lessened its holdings in Dycom Industries, Inc. (NYSE:DY) by 29.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,559 shares of the construction company’s stock after selling 6,760 shares during the period. Algert Global LLC’s holdings in Dycom Industries were worth $3,264,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Citigroup Inc. lifted its stake in shares of Dycom Industries by 79.6% during the 3rd quarter. Citigroup Inc. now owns 38,289 shares of the construction company’s stock worth $7,547,000 after buying an additional 16,966 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Dycom Industries during the third quarter worth approximately $13,144,000. Foundry Partners LLC grew its position in shares of Dycom Industries by 53.1% in the third quarter. Foundry Partners LLC now owns 2,906 shares of the construction company’s stock valued at $573,000 after purchasing an additional 1,008 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Dycom Industries during the third quarter worth approximately $1,516,000. Finally, First Horizon Advisors Inc. lifted its holdings in Dycom Industries by 25.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock worth $57,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Performance

Shares of NYSE:DY opened at $181.58 on Tuesday. Dycom Industries, Inc. has a 1 year low of $99.54 and a 1 year high of $207.20. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The company’s 50 day simple moving average is $189.27 and its 200 day simple moving average is $179.51.

Analyst Ratings Changes

A number of research analysts have commented on DY shares. Wells Fargo & Company upped their price objective on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. B. Riley raised their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. DA Davidson reissued a “buy” rating and issued a $210.00 price objective on shares of Dycom Industries in a report on Tuesday, November 19th. KeyCorp raised their target price on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Bank of America boosted their price target on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Dycom Industries presently has an average rating of “Buy” and a consensus price target of $206.13.

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.