Dycom Industries, Inc. (NYSE:DY - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 844,566 shares were traded during trading, an increase of 147% from the previous session's volume of 341,490 shares.The stock last traded at $153.39 and had previously closed at $153.05.
Analysts Set New Price Targets
DY has been the subject of a number of recent analyst reports. Raymond James lifted their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a report on Tuesday, February 4th. DA Davidson restated a "buy" rating and issued a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. KeyCorp lowered their price target on Dycom Industries from $229.00 to $201.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Finally, Wells Fargo & Company boosted their price objective on Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Dycom Industries presently has an average rating of "Buy" and a consensus target price of $205.38.
Check Out Our Latest Stock Analysis on DY
Dycom Industries Stock Down 1.8 %
The business has a fifty day simple moving average of $178.95 and a 200 day simple moving average of $182.50. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.29 and a beta of 1.34. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93.
Dycom Industries declared that its Board of Directors has approved 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 buy up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.
Insider Buying and Selling at Dycom Industries
In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the transaction, the director now owns 8,873 shares of the company's stock, valued at $1,536,005.03. This represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $175.08, for a total value of $507,732.00. Following the transaction, the director now directly owns 14,533 shares of the company's stock, valued at $2,544,437.64. The trade was a 16.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.28% of the company's stock.
Institutional Trading of Dycom Industries
Large investors have recently added to or reduced their stakes in the stock. Accent Capital Management LLC purchased a new stake in Dycom Industries in the 3rd quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new stake in Dycom Industries in the 3rd quarter valued at $28,000. SOA Wealth Advisors LLC. purchased a new stake in Dycom Industries in the 3rd quarter valued at $39,000. Westside Investment Management Inc. purchased a new stake in Dycom Industries in the 3rd quarter valued at $41,000. Finally, Anchor Investment Management LLC grew its holdings in Dycom Industries by 37.6% in the 3rd 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 in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.
About Dycom Industries
(
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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.
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