Cibc World Markets Corp Purchases Shares of 2,657 Dycom Industries, Inc. (NYSE:DY)

Cibc World Markets Corp acquired a new stake in Dycom Industries, Inc. (NYSE:DY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,657 shares of the construction company's stock, valued at approximately $462,000.

Several other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Dycom Industries during the 3rd quarter worth about $28,000. SOA Wealth Advisors LLC. bought a new position in shares of Dycom Industries during the third quarter worth approximately $39,000. Westside Investment Management Inc. acquired a new stake in shares of Dycom Industries in the third quarter valued at approximately $41,000. Anchor Investment Management LLC boosted its stake in shares of Dycom Industries by 37.6% in the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company's stock valued at $53,000 after buying an additional 73 shares during the period. Finally, First Horizon Advisors Inc. grew its position in Dycom Industries by 25.4% during the third quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company's stock worth $57,000 after buying an additional 59 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Dycom Industries

In other news, 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 completion of the transaction, the director now directly owns 14,533 shares in the company, valued at approximately $2,544,437.64. This represents a 16.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.28% of the company's stock.

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Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Raymond James upped their target price on Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research report on Tuesday, February 4th. B. Riley cut their price objective on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Finally, KeyCorp decreased their target price on shares of Dycom Industries from $229.00 to $201.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Dycom Industries has an average rating of "Buy" and a consensus price target of $204.38.

Dycom Industries Price Performance

Shares of DY stock traded down $3.22 on Thursday, reaching $154.55. The company had a trading volume of 498,143 shares, compared to its average volume of 359,033. The stock has a market capitalization of $4.48 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The business's 50-day moving average is $172.54 and its 200 day moving average is $180.66. Dycom Industries, Inc. has a one year low of $133.00 and a one year high of $207.20.

Dycom Industries declared that its board has approved a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its shares are undervalued.

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.