Dycom Industries, Inc. (NYSE:DY) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its position in Dycom Industries, Inc. (NYSE:DY) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,149 shares of the construction company’s stock after selling 1,182 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of Dycom Industries worth $2,637,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Dycom Industries in the third quarter valued at approximately $28,000. SOA Wealth Advisors LLC. acquired a new stake in Dycom Industries in the 3rd quarter valued at approximately $39,000. Westside Investment Management Inc. bought a new stake in Dycom Industries during the 3rd quarter valued at $41,000. Anchor Investment Management LLC boosted its position in Dycom Industries by 37.6% during the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Dycom Industries by 26.3% in the fourth 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.

Insider Transactions at Dycom Industries

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction 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. 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 through this hyperlink. Corporate insiders own 4.28% of the company’s stock.

Dycom Industries Trading Down 0.7 %

Shares of NYSE:DY opened at $152.84 on Tuesday. 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 stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a 1-year low of $133.00 and a 1-year high of $207.20. The company has a 50 day moving average price of $170.35 and a 200 day moving average price of $180.07.

Dycom Industries declared that its board has approved a share repurchase program on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

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.