Teacher Retirement System of Texas Has $2.36 Million Holdings in Dycom Industries, Inc. (NYSE:DY)

Teacher Retirement System of Texas decreased its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 41.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,567 shares of the construction company’s stock after selling 9,659 shares during the quarter. Teacher Retirement System of Texas’ holdings in Dycom Industries were worth $2,361,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DY. Corient Private Wealth LLC increased its position in Dycom Industries by 0.8% during the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company’s stock worth $1,221,000 after purchasing an additional 55 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Dycom Industries by 11.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock worth $98,000 after buying an additional 56 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Dycom Industries by 0.8% in the 4th quarter. Arizona State Retirement System now owns 8,447 shares of the construction company’s stock valued at $1,470,000 after acquiring an additional 70 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Dycom Industries by 26.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock valued at $59,000 after acquiring an additional 71 shares in the last quarter. Finally, Anchor Investment Management LLC grew 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 last quarter. Institutional investors own 98.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on DY shares. B. Riley cut their price target on Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. KeyCorp reduced their target price on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, Raymond James raised their price target on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Dycom Industries currently has an average rating of “Buy” and an average target price of $204.38.

Dycom Industries Trading Down 2.0 %

DY opened at $157.95 on Thursday. The stock has a market cap of $4.58 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. 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 twelve month low of $133.00 and a twelve month high of $207.20. The company has a fifty day moving average of $172.54 and a 200-day moving average of $180.66.

Dycom Industries announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to buy up to 3.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.28% of the company’s stock.

Dycom Industries Company 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.