Covalis Capital LLP Purchases 33,778 Shares of Dycom Industries, Inc. (NYSE:DY)

Covalis Capital LLP increased its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 158.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,099 shares of the construction company's stock after purchasing an additional 33,778 shares during the quarter. Dycom Industries accounts for 1.4% of Covalis Capital LLP's portfolio, making the stock its 27th biggest holding. Covalis Capital LLP owned about 0.19% of Dycom Industries worth $9,591,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. SOA Wealth Advisors LLC. bought a new position in Dycom Industries in the 3rd quarter worth $39,000. Westside Investment Management Inc. bought a new stake in shares of Dycom Industries in the third quarter worth about $41,000. Anchor Investment Management LLC grew its holdings 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 purchasing an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC increased its position 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 purchasing an additional 71 shares during the last quarter. Finally, GeoWealth Management LLC lifted its position in Dycom Industries by 35.9% during the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock valued at $61,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DY shares. Wells Fargo & Company decreased their price objective on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. KeyCorp lowered their price target on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research report on Wednesday. Raymond James boosted 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. Finally, B. Riley reduced their price target 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $200.25.

Dycom Industries Stock Up 1.7 %

Shares of NYSE:DY opened at $154.94 on Friday. The business has a fifty day moving average of $158.31 and a two-hundred day moving average of $175.91. Dycom Industries, Inc. has a 52-week low of $131.37 and a 52-week high of $207.20. 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 stock has a market cap of $4.49 billion, a P/E ratio of 20.39, a PEG ratio of 1.29 and a beta of 1.36.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.