Salem Investment Counselors Inc. Reduces Position in Dycom Industries, Inc. (NYSE:DY)

Salem Investment Counselors Inc. trimmed its holdings in Dycom Industries, Inc. (NYSE:DY) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 16,970 shares of the construction company’s stock after selling 817 shares during the quarter. Salem Investment Counselors Inc. owned about 0.06% of Dycom Industries worth $2,954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Accent Capital Management LLC bought a new stake in shares of Dycom Industries in the third quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in Dycom Industries in the third quarter worth about $28,000. Annapolis Financial Services LLC bought a new stake in shares of Dycom Industries during the 3rd quarter valued at about $29,000. Anchor Investment Management LLC grew its stake in shares of Dycom Industries by 50.4% during the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after purchasing an additional 65 shares during the period. Finally, SOA Wealth Advisors LLC. purchased a new stake in shares of Dycom Industries during the 3rd quarter valued at about $39,000. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Stock Down 0.2 %

DY opened at $176.08 on Tuesday. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.45 and a beta of 1.43. 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’s fifty day moving average is $181.42 and its 200 day moving average is $182.11. Dycom Industries, Inc. has a fifty-two week low of $109.87 and a fifty-two week high of $207.20.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. DA Davidson restated a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a research report on Tuesday, November 19th. KeyCorp boosted 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, January 8th. Finally, Wells Fargo & Company upped their price objective on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $206.38.

Insider Buying and Selling at Dycom Industries

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

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.