68,570 Shares in Dycom Industries, Inc. (NYSE:DY) Acquired by ARS Investment Partners LLC

ARS Investment Partners LLC acquired a new stake in Dycom Industries, Inc. (NYSE:DY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 68,570 shares of the construction company’s stock, valued at approximately $11,935,000. ARS Investment Partners LLC owned approximately 0.23% of Dycom Industries at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DY. Hennessy Advisors Inc. bought a new stake in Dycom Industries in the fourth quarter worth about $50,234,000. International Assets Investment Management LLC bought a new stake in shares of Dycom Industries during the third quarter valued at about $19,424,000. Millennium Management LLC boosted its position in shares of Dycom Industries by 6.3% in the second quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock valued at $275,324,000 after acquiring an additional 96,846 shares during the period. Eagle Asset Management Inc. purchased a new position in Dycom Industries during the third quarter valued at approximately $13,144,000. Finally, Point72 Asset Management L.P. bought a new stake in Dycom Industries during the 3rd quarter worth approximately $12,223,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. KeyCorp upped their target price on shares of Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, DA Davidson reiterated a “buy” rating and issued a $210.00 price objective on shares of Dycom Industries in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $206.38.

Insider Buying and Selling

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of the 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 sale, the director now directly owns 8,873 shares in the company, valued at approximately $1,536,005.03. This trade represents a 4.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction 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 completion of the sale, the director now directly owns 14,533 shares of the company’s stock, valued at approximately $2,544,437.64. The trade was a 16.64 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is owned by company insiders.

Dycom Industries Stock Performance

Shares of DY stock opened at $190.54 on Tuesday. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The stock has a fifty day moving average of $181.78 and a 200 day moving average of $182.80. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 1.76 and a beta of 1.43. Dycom Industries, Inc. has a 52 week low of $109.87 and a 52 week high of $207.20.

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.