6,689 Shares in Dycom Industries, Inc. (NYSE:DY) Purchased by Nordea Investment Management AB

Nordea Investment Management AB bought a new position in Dycom Industries, Inc. (NYSE:DY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,689 shares of the construction company’s stock, valued at approximately $1,171,000.

Other hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp grew its stake in Dycom Industries by 46.5% in the 3rd quarter. Stifel Financial Corp now owns 20,232 shares of the construction company’s stock worth $3,988,000 after acquiring an additional 6,418 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Dycom Industries by 65.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock worth $15,831,000 after acquiring an additional 31,864 shares in the last quarter. Hsbc Holdings PLC grew its stake in Dycom Industries by 193.7% in the 2nd quarter. Hsbc Holdings PLC now owns 7,819 shares of the construction company’s stock worth $1,317,000 after acquiring an additional 5,157 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in Dycom Industries in the 3rd quarter worth about $773,000. Finally, Creative Planning grew its stake in Dycom Industries by 19.2% in the 3rd quarter. Creative Planning now owns 6,560 shares of the construction company’s stock worth $1,293,000 after acquiring an additional 1,055 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Trading Down 1.4 %

NYSE:DY opened at $176.54 on Monday. Dycom Industries, Inc. has a 52 week low of $109.87 and a 52 week high of $207.20. The firm has a 50 day moving average of $181.42 and a 200 day moving average of $182.00. 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 market capitalization of $5.15 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.45 and a beta of 1.43.

Insiders Place Their Bets

In related news, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the transaction, the director now owns 8,873 shares of the company’s stock, 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 at this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the transaction, the director now directly owns 14,533 shares of the company’s stock, valued at approximately $2,544,437.64. This trade represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DY shares. Wells Fargo & Company increased their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. KeyCorp increased their price objective on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Finally, DA Davidson reiterated a “buy” rating and set a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday, November 19th. One equities 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. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $206.38.

About Dycom Industries

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.