Hussman Strategic Advisors Inc. Acquires 6,300 Shares of Dycom Industries, Inc. (NYSE:DY)

Hussman Strategic Advisors Inc. raised its holdings in Dycom Industries, Inc. (NYSE:DY) by 100.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,600 shares of the construction company’s stock after buying an additional 6,300 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Dycom Industries were worth $2,193,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Hennessy Advisors Inc. bought a new position in shares of Dycom Industries during the fourth quarter valued at about $50,234,000. International Assets Investment Management LLC bought a new position in shares of Dycom Industries during the third quarter valued at about $19,424,000. Eagle Asset Management Inc. bought a new position in shares of Dycom Industries during the third quarter valued at about $13,144,000. ARS Investment Partners LLC bought a new position in shares of Dycom Industries during the fourth quarter valued at about $11,935,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Dycom Industries during the third quarter valued at about $12,223,000. 98.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DY shares. Wells Fargo & Company raised their price target on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. 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 report on Tuesday, February 4th. DA Davidson reissued a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. Finally, KeyCorp lifted their price objective on shares of Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. One investment 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $208.88.

Dycom Industries Stock Performance

Shares of DY stock opened at $180.62 on Thursday. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 1.34 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. Dycom Industries, Inc. has a 52 week low of $112.50 and a 52 week high of $207.20. The firm’s 50-day simple moving average is $182.65 and its two-hundred day simple moving average is $184.53.

Insiders Place Their Bets

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries 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 completion of the transaction, the director now owns 14,533 shares in the company, 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 Securities & Exchange Commission, 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 transaction of $74,437.30. Following the completion of the transaction, the director now owns 8,873 shares of the company’s stock, valued at $1,536,005.03. The trade was a 4.62 % decrease in their position. The disclosure for this sale can be found here. 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.