Dycom Industries, Inc. (NYSE:DY) Short Interest Update

Dycom Industries, Inc. (NYSE:DY) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,740,000 shares, an increase of 29.9% from the December 15th total of 1,340,000 shares. Approximately 6.2% of the company’s shares are sold short. Based on an average trading volume of 439,300 shares, the days-to-cover ratio is currently 4.0 days.

Insider Buying and Selling

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total value of $74,437.30. Following the transaction, the director now directly owns 8,873 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $175.08, for a total value of $507,732.00. Following the transaction, the director now owns 14,533 shares in the company, valued at $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. 4.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Dycom Industries

A number of institutional investors and hedge funds have recently modified their holdings of DY. Transform Wealth LLC purchased a new stake in shares of Dycom Industries in the fourth quarter worth $479,000. ARS Investment Partners LLC purchased a new stake in shares of Dycom Industries in the 4th quarter valued at about $11,935,000. Hennessy Advisors Inc. bought a new stake in shares of Dycom Industries during the 4th quarter valued at about $50,234,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Dycom Industries by 41.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,528 shares of the construction company’s stock worth $788,000 after purchasing an additional 1,328 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Dycom Industries in the fourth quarter worth approximately $371,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Stock Performance

Shares of DY stock traded up $0.61 during trading on Friday, reaching $190.54. 408,348 shares of the company’s stock traded hands, compared to its average volume of 385,641. The firm’s 50-day moving average is $181.84 and its 200 day moving average is $182.50. The company has a market capitalization of $5.56 billion, a P/E ratio of 25.07, a PEG ratio of 1.63 and a beta of 1.43. Dycom Industries has a 1 year low of $109.87 and a 1 year high of $207.20. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DY shares. Wells Fargo & Company boosted their price target on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. DA Davidson restated a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. Finally, KeyCorp lifted their price target on Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $206.38.

About Dycom Industries

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.