American Century Companies Inc. Buys 18,476 Shares of Dycom Industries, Inc. (NYSE:DY)

American Century Companies Inc. boosted its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 108.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,575 shares of the construction company's stock after purchasing an additional 18,476 shares during the period. American Century Companies Inc. owned about 0.12% of Dycom Industries worth $6,192,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. State Street Corp increased its stake in shares of Dycom Industries by 4.0% in the 3rd quarter. State Street Corp now owns 1,158,585 shares of the construction company's stock worth $228,357,000 after purchasing an additional 44,321 shares in the last quarter. Principal Financial Group Inc. increased its position in Dycom Industries by 4.3% in the third quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company's stock worth $131,278,000 after buying an additional 27,370 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Dycom Industries by 1.4% in the third quarter. Geode Capital Management LLC now owns 650,883 shares of the construction company's stock worth $128,315,000 after buying an additional 9,113 shares during the period. Hennessy Advisors Inc. bought a new position in shares of Dycom Industries in the fourth quarter worth about $50,234,000. Finally, Franklin Resources Inc. lifted its position in shares of Dycom Industries by 17.7% during the 3rd quarter. Franklin Resources Inc. now owns 154,814 shares of the construction company's stock valued at $29,237,000 after buying an additional 23,270 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $175.08, for a total value of $507,732.00. Following the sale, the director now owns 14,533 shares in the company, valued at approximately $2,544,437.64. The trade was a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.28% of the stock is owned by company insiders.

Dycom Industries Price Performance

DY stock traded up $15.23 during mid-day trading on Wednesday, hitting $155.92. The company had a trading volume of 850,843 shares, compared to its average volume of 388,780. The company has a 50-day moving average price of $163.22 and a 200 day moving average price of $177.53. Dycom Industries, Inc. has a 12-month low of $131.37 and a 12-month high of $207.20. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 1.29 and a beta of 1.36. 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 declared that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. B. Riley decreased their price objective on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Raymond James upped their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a report on Tuesday, February 4th. Finally, KeyCorp cut their price target on Dycom Industries from $229.00 to $201.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Dycom Industries currently has a consensus rating of "Buy" and a consensus price target of $202.50.

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.