Avantax Advisory Services Inc. Sells 1,658 Shares of Dycom Industries, Inc. (NYSE:DY)

Avantax Advisory Services Inc. reduced its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 47.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,823 shares of the construction company's stock after selling 1,658 shares during the period. Avantax Advisory Services Inc.'s holdings in Dycom Industries were worth $317,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after acquiring an additional 71 shares in the last quarter. Inspire Advisors LLC boosted its stake in Dycom Industries by 2.7% in the 4th quarter. Inspire Advisors LLC now owns 6,940 shares of the construction company's stock worth $1,208,000 after purchasing an additional 184 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Dycom Industries by 20.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,183 shares of the construction company's stock worth $1,424,000 after purchasing an additional 1,394 shares in the last quarter. Amundi grew its position in Dycom Industries by 190.9% during the 4th quarter. Amundi now owns 14,899 shares of the construction company's stock valued at $2,667,000 after purchasing an additional 9,777 shares during the last quarter. Finally, Lisanti Capital Growth LLC increased its stake in Dycom Industries by 2.8% during the 4th quarter. Lisanti Capital Growth LLC now owns 23,190 shares of the construction company's stock valued at $4,036,000 after purchasing an additional 640 shares in the last quarter. Institutional investors own 98.33% of the company's stock.

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Dycom Industries Stock Performance

Shares of DY stock traded down $0.43 on Friday, reaching $153.72. The stock had a trading volume of 214,427 shares, compared to its average volume of 380,827. 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 1 year low of $133.00 and a 1 year high of $207.20. The stock has a market cap of $4.45 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. The company has a 50 day simple moving average of $171.10 and a 200 day simple moving average of $180.32.

Dycom Industries declared that its board has authorized 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 reacquire up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 14,533 shares in the company, valued at $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

DY has been the topic of several analyst reports. KeyCorp dropped their target price on shares of Dycom Industries from $229.00 to $201.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. B. Riley cut their target price on 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 lifted their target price on Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Dycom Industries currently has an average rating of "Buy" and a consensus target price of $204.38.

Dycom Industries 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.