First Eagle Investment Management LLC Trims Stock Holdings in Dycom Industries, Inc. $DY

First Eagle Investment Management LLC decreased its position in Dycom Industries, Inc. (NYSE:DY) by 25.6% in the third quarter, Holdings Channel.com reports. The firm owned 46,442 shares of the construction company’s stock after selling 16,013 shares during the quarter. First Eagle Investment Management LLC’s holdings in Dycom Industries were worth $13,550,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DY. Root Financial Partners LLC purchased a new stake in shares of Dycom Industries in the 3rd quarter worth about $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in Dycom Industries during the 2nd quarter valued at about $32,000. Optiver Holding B.V. grew its holdings in Dycom Industries by 57.1% in the third quarter. Optiver Holding B.V. now owns 110 shares of the construction company’s stock worth $32,000 after purchasing an additional 40 shares during the period. CI Investments Inc. increased its stake in shares of Dycom Industries by 259.4% during the third quarter. CI Investments Inc. now owns 115 shares of the construction company’s stock valued at $34,000 after purchasing an additional 83 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new position in shares of Dycom Industries during the third quarter valued at approximately $37,000. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Stock Performance

Shares of NYSE DY opened at $402.61 on Wednesday. The firm’s 50-day moving average price is $380.94 and its 200-day moving average price is $325.99. Dycom Industries, Inc. has a 52-week low of $131.37 and a 52-week high of $445.52. The company has a market cap of $11.66 billion, a PE ratio of 39.63, a PEG ratio of 1.38 and a beta of 1.34. The company has a quick ratio of 2.90, a current ratio of 3.09 and a debt-to-equity ratio of 0.62.

Insider Transactions at Dycom Industries

In other Dycom Industries news, Director Eitan Gertel sold 3,645 shares of Dycom Industries stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $345.62, for a total value of $1,259,784.90. Following the completion of the sale, the director owned 15,997 shares of the company’s stock, valued at approximately $5,528,883.14. The trade was a 18.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Vertical Research assumed coverage on Dycom Industries in a research report on Tuesday, December 23rd. They issued a “buy” rating and a $420.00 price target on the stock. B. Riley Financial boosted their target price on Dycom Industries from $320.00 to $420.00 and gave the stock a “buy” rating in a report on Friday, November 21st. DA Davidson raised their price target on Dycom Industries from $300.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Zacks Research lowered Dycom Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Finally, KeyCorp reiterated an “overweight” rating on shares of Dycom Industries in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $406.20.

Dycom Industries Profile

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.