KBC Group NV Grows Stake in Dycom Industries, Inc. (NYSE:DY)

KBC Group NV increased its position in Dycom Industries, Inc. (NYSE:DY) by 39.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,214 shares of the construction company’s stock after acquiring an additional 342 shares during the period. KBC Group NV’s holdings in Dycom Industries were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Hennessy Advisors Inc. purchased a new stake in shares of Dycom Industries in the 4th quarter worth $50,234,000. International Assets Investment Management LLC bought a new stake in Dycom Industries during the third quarter valued at about $19,424,000. Eagle Asset Management Inc. purchased a new stake in Dycom Industries in the third quarter worth about $13,144,000. ARS Investment Partners LLC bought a new position in shares of Dycom Industries in the fourth quarter worth about $11,935,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Dycom Industries during the 3rd quarter valued at about $12,223,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Stock Up 0.1 %

DY opened at $185.70 on Wednesday. The company has a market capitalization of $5.42 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The firm has a 50-day simple moving average of $182.05 and a two-hundred day simple moving average of $183.79. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a 52 week low of $112.15 and a 52 week high of $207.20.

Insiders Place Their Bets

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’s 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 sale, the director now directly owns 14,533 shares in the company, valued at $2,544,437.64. The trade was a 16.64 % decrease in their position. 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 Dycom Industries stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total value of $74,437.30. Following the completion of 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. Corporate insiders own 4.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DY shares. KeyCorp raised their target price on shares of Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Raymond James raised their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Tuesday. DA Davidson reiterated a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company raised their price target on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $208.88.

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.