Arrowstreet Capital Limited Partnership trimmed its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 37.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,677 shares of the construction company's stock after selling 11,064 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.06% of Dycom Industries worth $3,251,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. SOA Wealth Advisors LLC. acquired a new position in Dycom Industries during the 3rd quarter valued at $39,000. Westside Investment Management Inc. bought a new stake in shares of Dycom Industries in the third quarter valued at about $41,000. Anchor Investment Management LLC grew its position in Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company's stock worth $53,000 after buying an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Dycom Industries by 26.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock valued at $59,000 after acquiring an additional 71 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in Dycom Industries by 34.7% in the 4th quarter. First Horizon Advisors Inc. now owns 392 shares of the construction company's stock valued at $68,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company's stock.
Dycom Industries Price Performance
Shares of Dycom Industries stock traded up $1.04 during trading on Monday, reaching $154.31. The company's stock had a trading volume of 9,141 shares, compared to its average volume of 389,839. Dycom Industries, Inc. has a one year low of $131.37 and a one year high of $207.20. The stock has a 50-day moving average price of $161.88 and a two-hundred day moving average price of $176.82. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $4.47 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.29 and a beta of 1.36.
Dycom Industries declared that its board has authorized a stock repurchase program on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 3.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Wells Fargo & Company cut their target price on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. KeyCorp reduced their price objective on shares of Dycom Industries from $229.00 to $201.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. B. Riley lowered their target price on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Finally, Raymond James increased their price target on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $202.50.
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About Dycom Industries
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Free Report)
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.
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