First Trust Advisors LP Acquires 292,050 Shares of Dycom Industries, Inc. (NYSE:DY)

First Trust Advisors LP grew its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 142.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 496,407 shares of the construction company's stock after purchasing an additional 292,050 shares during the quarter. First Trust Advisors LP owned approximately 1.70% of Dycom Industries worth $86,405,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Corient Private Wealth LLC lifted its position in Dycom Industries by 0.8% during the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company's stock worth $1,221,000 after acquiring an additional 55 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Dycom Industries by 11.1% during the 4th 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. Arizona State Retirement System lifted its position in shares of Dycom Industries by 0.8% in the 4th quarter. Arizona State Retirement System now owns 8,447 shares of the construction company's stock worth $1,470,000 after buying an additional 70 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock valued at $59,000 after acquiring an additional 71 shares during the period. Finally, Anchor Investment Management LLC grew 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 last quarter. Institutional investors and hedge funds own 98.33% of the company's stock.

Dycom Industries Trading Up 0.5 %

DY stock traded up $0.78 during midday trading on Friday, reaching $165.25. The stock had a trading volume of 357,974 shares, compared to its average volume of 400,475. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $207.20. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.29 and a beta of 1.36. The business has a fifty day simple moving average of $155.34 and a two-hundred day simple moving average of $174.59.

Dycom Industries declared that its board has initiated a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to purchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have commented on DY. Raymond James raised their price target 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 dropped their target price on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. B. Riley decreased their price target on Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Wells Fargo & Company lowered their price objective on shares of Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. began coverage on shares of Dycom Industries in a research report on Monday, April 21st. They issued an "overweight" rating and a $200.00 price target for the company. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $200.22.

Dycom Industries 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.