Advisors Asset Management Inc. Acquires 3,847 Shares of Dycom Industries, Inc. (NYSE:DY)

Advisors Asset Management Inc. boosted its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,758 shares of the construction company's stock after acquiring an additional 3,847 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.14% of Dycom Industries worth $7,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DY. Legacy Investment Solutions LLC acquired a new position in shares of Dycom Industries during the third quarter valued at $28,000. SOA Wealth Advisors LLC. acquired a new position in Dycom Industries during the 3rd quarter valued at about $39,000. Westside Investment Management Inc. bought a new position in shares of Dycom Industries in the 3rd quarter valued at about $41,000. Anchor Investment Management LLC grew its position in shares of 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, First Horizon Advisors Inc. grew its position in shares of Dycom Industries by 25.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company's stock worth $57,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 98.33% of the company's stock.

Insider Transactions 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 shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.28% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

DY has been the topic of several analyst reports. Raymond James raised their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research note on Tuesday, February 4th. KeyCorp cut their price target on Dycom Industries from $229.00 to $201.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Finally, B. Riley decreased their price objective on Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Dycom Industries currently has a consensus rating of "Buy" and a consensus target price of $204.38.

Dycom Industries Trading Down 1.8 %

Dycom Industries stock traded down $2.94 during mid-day trading on Friday, hitting $156.21. 573,496 shares of the company's stock were exchanged, compared to its average volume of 357,665. Dycom Industries, Inc. has a fifty-two week low of $133.00 and a fifty-two 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 firm has a market capitalization of $4.53 billion, a P/E ratio of 20.55, a PEG ratio of 1.29 and a beta of 1.34. The company's 50 day simple moving average is $173.88 and its 200-day simple moving average is $180.91.

Dycom Industries declared that its board has initiated a share buyback program on Wednesday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication 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.