Prudential Financial Inc. Has $10.36 Million Holdings in Dycom Industries, Inc. (NYSE:DY)

Prudential Financial Inc. cut its stake in Dycom Industries, Inc. (NYSE:DY) by 13.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 59,499 shares of the construction company’s stock after selling 9,519 shares during the period. Prudential Financial Inc.’s holdings in Dycom Industries were worth $10,356,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of Dycom Industries in the 3rd quarter valued at $28,000. SOA Wealth Advisors LLC. bought a new position in shares of Dycom Industries in the third quarter valued at $39,000. Westside Investment Management Inc. bought a new stake in shares of Dycom Industries during the third quarter worth about $41,000. Anchor Investment Management LLC lifted its position in Dycom Industries by 37.6% in the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock valued at $53,000 after acquiring an additional 73 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Dycom Industries by 26.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock worth $59,000 after purchasing an additional 71 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. B. Riley lowered their price target on Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Raymond James increased their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 4th. Finally, KeyCorp cut their price target on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $204.38.

Insider Buying and Selling at Dycom Industries

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction dated 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 transaction, the director now directly owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.28% of the company’s stock.

Dycom Industries Stock Down 0.3 %

Shares of NYSE:DY opened at $153.72 on Friday. Dycom Industries, Inc. has a 12-month low of $133.00 and a 12-month high of $207.20. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The stock’s 50-day moving average price is $171.10 and its 200-day moving average price is $180.31. The stock has a market capitalization of $4.45 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34.

Dycom Industries declared that its board has initiated a stock buyback plan on Wednesday, February 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are 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.