Vanguard Group Inc. Buys 3,721 Shares of Dycom Industries, Inc. (NYSE:DY)

Vanguard Group Inc. increased its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,147,424 shares of the construction company's stock after acquiring an additional 3,721 shares during the period. Vanguard Group Inc. owned about 10.79% of Dycom Industries worth $547,841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in DY. Stifel Financial Corp lifted its holdings in shares of Dycom Industries by 46.5% in the third quarter. Stifel Financial Corp now owns 20,232 shares of the construction company's stock worth $3,988,000 after acquiring an additional 6,418 shares during the last quarter. Nordea Investment Management AB acquired a new stake in Dycom Industries in the fourth quarter valued at approximately $1,171,000. JPMorgan Chase & Co. grew its stake in shares of Dycom Industries by 65.8% during the third quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company's stock worth $15,831,000 after buying an additional 31,864 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Dycom Industries by 4.3% during the third quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company's stock worth $131,278,000 after buying an additional 27,370 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Dycom Industries by 209.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company's stock valued at $68,000 after acquiring an additional 264 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DY. Raymond James boosted their price objective on Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price target on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday. B. Riley dropped their price objective on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Finally, KeyCorp cut 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 report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $202.50.

Insider Transactions at Dycom Industries

In related news, 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 sale, the director now owns 14,533 shares in the company, valued at $2,544,437.64. This represents a 16.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.28% of the stock is currently owned by corporate insiders.

Dycom Industries Trading Down 6.3 %

NYSE:DY traded down $9.39 on Friday, reaching $138.55. 646,011 shares of the stock traded hands, compared to its average volume of 384,250. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a 1-year low of $133.00 and a 1-year high of $207.20. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The company's 50 day moving average is $166.92 and its 200-day moving average is $179.09.

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