Great Lakes Advisors LLC Trims Stock Position in Dycom Industries, Inc. (NYSE:DY)

Great Lakes Advisors LLC lowered its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,120 shares of the construction company's stock after selling 2,449 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.08% of Dycom Industries worth $4,024,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in DY. Hennessy Advisors Inc. bought a new position in Dycom Industries during the fourth quarter valued at about $50,234,000. Reaves W H & Co. Inc. grew its position in Dycom Industries by 232.1% during the fourth quarter. Reaves W H & Co. Inc. now owns 117,429 shares of the construction company's stock valued at $20,440,000 after buying an additional 82,071 shares during the period. Eagle Asset Management Inc. bought a new position in Dycom Industries during the third quarter valued at about $13,144,000. ARS Investment Partners LLC bought a new position in Dycom Industries during the fourth quarter valued at about $11,935,000. Finally, Point72 Asset Management L.P. bought a new position in Dycom Industries during the third quarter valued at about $12,223,000. Institutional investors own 98.33% of the company's stock.

Dycom Industries Price Performance

DY traded down $1.20 on Tuesday, reaching $156.26. The company had a trading volume of 451,445 shares, compared to its average volume of 355,869. Dycom Industries, Inc. has a 52-week low of $133.00 and a 52-week high of $207.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The business has a 50 day simple moving average of $175.08 and a 200 day simple moving average of $181.28. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 1.29 and a beta of 1.34.

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Dycom Industries declared that its board has initiated a stock buyback plan on Wednesday, February 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. KeyCorp dropped their price objective on shares of Dycom Industries from $229.00 to $201.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. DA Davidson reaffirmed a "buy" rating and set a $210.00 price objective on shares of Dycom Industries in a report on Tuesday, November 19th. Finally, Raymond James upped 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. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $205.38.

Insider Transactions at Dycom Industries

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the completion of the transaction, the director now owns 14,533 shares of the company's stock, valued at approximately $2,544,437.64. This trade represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jennifer M. Fritzsche sold 430 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $1,536,005.03. The trade was a 4.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.28% of the company's stock.

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.