Great Lakes Advisors LLC Has $4.02 Million 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% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,120 shares of the construction company's stock after selling 2,449 shares during the quarter. Great Lakes Advisors LLC owned about 0.08% of Dycom Industries worth $4,024,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DY. Wilmington Savings Fund Society FSB boosted its holdings in shares of Dycom Industries by 11.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company's stock valued at $98,000 after purchasing an additional 56 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Dycom Industries by 25.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company's stock valued at $57,000 after purchasing an additional 59 shares in the last quarter. Arizona State Retirement System boosted its holdings 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 valued at $1,470,000 after purchasing an additional 70 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Dycom Industries by 26.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock valued at $59,000 after purchasing an additional 71 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its holdings in shares of 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 purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company's stock.

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Dycom Industries Trading Down 1.5 %

NYSE:DY traded down $2.29 during trading hours on Tuesday, hitting $155.17. 63,695 shares of the company were exchanged, compared to its average volume of 542,257. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a one year low of $133.00 and a one year high of $207.20. The company has a fifty day simple moving average of $175.50 and a 200 day simple moving average of $181.42.

Dycom Industries announced that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the 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 completion of the sale, the director now directly owns 14,533 shares in the company, 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 accessible through this link. Also, Director Jennifer M. Fritzsche sold 430 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total value of $74,437.30. Following the sale, the director now owns 8,873 shares of the company's stock, valued at approximately $1,536,005.03. The trade was a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. DA Davidson reaffirmed a "buy" rating and issued a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. KeyCorp dropped their price target on Dycom Industries from $229.00 to $201.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Finally, Raymond James increased their price target on Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $205.38.

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.