Dycom Industries, Inc. (NYSE:DY) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. lowered its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,438 shares of the construction company's stock after selling 6,381 shares during the quarter. Dana Investment Advisors Inc. owned about 0.19% of Dycom Industries worth $9,650,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of DY. Wilmington Savings Fund Society FSB grew its position in Dycom Industries by 11.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company's stock valued at $98,000 after acquiring an additional 56 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Dycom Industries by 25.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company's stock valued at $57,000 after purchasing an additional 59 shares in the last quarter. Arizona State Retirement System grew its holdings in Dycom Industries by 0.8% during the 4th quarter. Arizona State Retirement System now owns 8,447 shares of the construction company's stock valued at $1,470,000 after purchasing an additional 70 shares in the last quarter. Anchor Investment Management LLC increased its stake in Dycom Industries by 37.6% during the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company's stock worth $53,000 after buying an additional 73 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in Dycom Industries by 4.5% in the 3rd quarter. HighTower Advisors LLC now owns 1,858 shares of the construction company's stock worth $366,000 after buying an additional 80 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Activity

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total value of $74,437.30. Following the sale, the director now directly owns 8,873 shares in the company, valued at approximately $1,536,005.03. This trade represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the transaction, the director now owns 14,533 shares of the company's stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.28% of the company's stock.

Dycom Industries Stock Performance

Shares of NYSE DY traded down $2.59 during trading on Friday, reaching $140.93. The stock had a trading volume of 869,988 shares, compared to its average volume of 346,820. 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 stock has a market cap of $4.08 billion, a PE ratio of 18.54, a P/E/G ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a one year low of $133.00 and a one year high of $207.20. The firm's 50 day moving average price is $178.95 and its two-hundred day moving average price is $182.56.

Dycom Industries declared that its board has initiated a share repurchase plan on Wednesday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently weighed in on DY shares. DA Davidson restated a "buy" rating and set a $210.00 target price on shares of Dycom Industries in a research note on Tuesday, November 19th. Raymond James raised their price objective on Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research note on Tuesday, February 4th. Wells Fargo & Company upped their target price on Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Finally, KeyCorp reduced their target price on Dycom Industries from $229.00 to $201.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $205.38.

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.