Wed Sep 25 07:53:18 UTC 2024: ## State of New Jersey Pension Fund Sells Off Portion of Dycom Industries Holdings

**September 25, 2024** – The State of New Jersey Common Pension Fund D significantly reduced its holdings in Dycom Industries, Inc. (NYSE:DY) during the second quarter, according to HoldingsChannel. The fund shed 53.5% of its stock, selling 12,238 shares, and now holds 10,634 shares valued at $1,795,000.

This move comes amidst a flurry of activity from other institutional investors and hedge funds in the company. While the New Jersey fund sold, others like GAMMA Investing LLC and SJS Investment Consulting Inc. increased their positions in Dycom Industries during the second quarter.

Dycom Industries, a specialty contracting services provider for telecommunications and utility industries, opened at $196.04 on Wednesday. The company’s stock has seen a range of activity, with a 12-month low of $78.42 and a 12-month high of $199.77.

Analysts remain largely bullish on Dycom Industries, with six brokerages assigning a “buy” rating, one “strong buy” rating, and one “hold” rating. The average price target sits at $199.57.

Recent insider transactions have also been reported, including a sale of 856 shares by Vice President Jason T. Lawson on July 11th. The sale, disclosed in a legal filing with the Securities & Exchange Commission, totaled $149,354.88.

Despite the New Jersey pension fund’s reduction, overall institutional ownership in Dycom Industries remains high, with 98.33% of the company’s stock held by these investors.

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