Great Lakes Advisors LLC reduced its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,120 shares of the construction company's stock after selling 2,449 shares during the quarter. Great Lakes Advisors LLC owned 0.08% of Dycom Industries worth $4,024,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of DY. Accent Capital Management LLC acquired a new stake in shares of Dycom Industries in the third quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Dycom Industries during the 3rd quarter valued at approximately $28,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Dycom Industries during the 3rd quarter valued at approximately $39,000. Westside Investment Management Inc. acquired a new position in Dycom Industries during the third quarter worth $41,000. Finally, Anchor Investment Management LLC boosted its position in Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company's stock worth $53,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company's stock.
Insider Transactions at Dycom Industries
In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm's stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jennifer M. Fritzsche sold 430 shares of the company's stock in a transaction 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 sale, the director now directly owns 8,873 shares of the company's stock, valued at approximately $1,536,005.03. This trade represents a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.28% of the company's stock.
Dycom Industries Trading Up 1.4 %
Shares of NYSE DY traded up $2.15 during trading on Monday, hitting $157.72. 209,605 shares of the company traded hands, compared to its average volume of 353,997. The firm has a market capitalization of $4.57 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.29 and a beta of 1.34. 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 company has a 50-day moving average price of $176.00 and a 200-day moving average price of $181.51. Dycom Industries, Inc. has a 1 year low of $133.00 and a 1 year high of $207.20.
Dycom Industries announced that its board has initiated a stock buyback program on Wednesday, February 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 3.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
DY has been the topic of a number of research reports. Raymond James increased 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 note on Tuesday, February 4th. DA Davidson reaffirmed a "buy" rating and issued a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th. Finally, KeyCorp dropped their price objective on shares of Dycom Industries from $229.00 to $201.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Dycom Industries has a consensus rating of "Buy" and a consensus target price of $205.38.
Read Our Latest Stock Report on DY
About Dycom Industries
(
Free Report)
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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