EFG Asset Management North America Corp. Acquires 9,316 Shares of Dycom Industries, Inc. (NYSE:DY)

EFG Asset Management North America Corp. lifted its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 58.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,264 shares of the construction company's stock after buying an additional 9,316 shares during the quarter. EFG Asset Management North America Corp. owned 0.09% of Dycom Industries worth $4,402,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DY. Legacy Investment Solutions LLC bought a new position in Dycom Industries during the 3rd quarter valued at $28,000. SOA Wealth Advisors LLC. bought a new position in shares of Dycom Industries during the third quarter worth about $39,000. Westside Investment Management Inc. acquired a new position in Dycom Industries in the third quarter worth about $41,000. Anchor Investment Management LLC increased its holdings in 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 buying an additional 73 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in Dycom Industries by 25.4% during the third quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company's stock valued at $57,000 after buying an additional 59 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DY shares. B. Riley lowered their target price on Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. 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 research report on Tuesday, February 4th. Finally, KeyCorp lowered their target price 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $204.38.

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Insider Buying and Selling

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries 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. The trade was a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.28% of the company's stock.

Dycom Industries Price Performance

Dycom Industries stock traded down $0.43 during midday trading on Friday, hitting $153.72. The company's stock had a trading volume of 214,427 shares, compared to its average volume of 380,827. 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's 50-day moving average price is $171.10 and its 200-day moving average price is $180.32. Dycom Industries, Inc. has a 12 month low of $133.00 and a 12 month high of $207.20. The company has a market capitalization of $4.45 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34.

Dycom Industries announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to repurchase up to 3.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

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.