Dycom Industries, Inc. (NYSE:DY) Shares Purchased by Amundi

Amundi boosted its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 190.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,899 shares of the construction company's stock after buying an additional 9,777 shares during the quarter. Amundi owned 0.05% of Dycom Industries worth $2,667,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Crossmark Global Holdings Inc. increased its position in Dycom Industries by 17.7% during the third quarter. Crossmark Global Holdings Inc. now owns 2,403 shares of the construction company's stock valued at $474,000 after acquiring an additional 362 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Dycom Industries by 61.6% during the 3rd quarter. Victory Capital Management Inc. now owns 13,906 shares of the construction company's stock valued at $2,741,000 after purchasing an additional 5,303 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Dycom Industries by 17.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 7,270 shares of the construction company's stock valued at $1,433,000 after purchasing an additional 1,069 shares during the last quarter. KBC Group NV lifted its stake in shares of Dycom Industries by 18.0% in the 3rd quarter. KBC Group NV now owns 872 shares of the construction company's stock worth $172,000 after purchasing an additional 133 shares during the period. Finally, Accent Capital Management LLC purchased a new position in shares of Dycom Industries in the third quarter worth approximately $25,000. Hedge funds and other institutional investors own 98.33% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of brokerages have commented on DY. DA Davidson reaffirmed a "buy" rating and set a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. KeyCorp decreased their target price on 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 boosted their price target on Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $205.38.

Dycom Industries Price Performance

Shares of NYSE:DY traded up $1.96 on Monday, reaching $157.53. The company's stock had a trading volume of 499,646 shares, compared to its average volume of 353,086. The company has a 50-day simple moving average of $175.50 and a 200 day simple moving average of $181.42. Dycom Industries, Inc. has a 52-week low of $133.00 and a 52-week high of $207.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The company has a market cap of $4.57 billion, a P/E ratio of 20.73, a PEG ratio of 1.29 and a beta of 1.34.

Dycom Industries announced that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the sale, the director now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction 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 directly owns 14,533 shares in the company, valued at $2,544,437.64. The trade was a 16.64 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is owned by corporate insiders.

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.