Peregrine Capital Management LLC Lowers Position in Dycom Industries, Inc. (NYSE:DY)

Peregrine Capital Management LLC decreased its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 25.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,236 shares of the construction company’s stock after selling 18,673 shares during the quarter. Peregrine Capital Management LLC owned 0.19% of Dycom Industries worth $9,614,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Accent Capital Management LLC bought a new position in Dycom Industries in the third quarter valued at $25,000. Legacy Investment Solutions LLC bought a new position in shares of Dycom Industries during the 3rd quarter valued at about $28,000. SOA Wealth Advisors LLC. purchased a new position in shares of Dycom Industries during the 3rd quarter valued at about $39,000. Westside Investment Management Inc. bought a new stake in Dycom Industries in the 3rd quarter worth approximately $41,000. Finally, Anchor Investment Management LLC grew its position in Dycom Industries by 37.6% during the third 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 during the last quarter. 98.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jennifer M. Fritzsche sold 430 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the transaction, the director now owns 8,873 shares in the company, valued at $1,536,005.03. The trade was a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction 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 approximately $2,544,437.64. The trade was a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.28% of the company’s stock.

Analyst Ratings Changes

DY has been the subject of a number of recent research reports. Raymond James boosted their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company boosted their price target on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. KeyCorp raised their price objective on 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 reissued a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a research note on Tuesday, November 19th. One 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $208.88.

Dycom Industries Stock Performance

Dycom Industries stock opened at $177.89 on Tuesday. Dycom Industries, Inc. has a 1-year low of $112.50 and a 1-year high of $207.20. The firm has a market cap of $5.19 billion, a P/E ratio of 23.41, a P/E/G ratio of 1.51 and a beta of 1.42. 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 firm has a 50-day moving average of $182.74 and a 200-day moving average of $184.54.

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.