Intech Investment Management LLC boosted its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 74.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,386 shares of the construction company's stock after purchasing an additional 5,694 shares during the period. Intech Investment Management LLC's holdings in Dycom Industries were worth $2,330,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its holdings in Dycom Industries by 10.1% during the fourth quarter. Advisors Asset Management Inc. now owns 41,758 shares of the construction company's stock valued at $7,268,000 after buying an additional 3,847 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Dycom Industries during the 4th quarter valued at $462,000. Corient Private Wealth LLC increased its stake in shares of Dycom Industries by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company's stock worth $1,221,000 after purchasing an additional 55 shares in the last quarter. Ironwood Investment Management LLC raised its holdings in Dycom Industries by 0.6% in the 4th quarter. Ironwood Investment Management LLC now owns 14,795 shares of the construction company's stock worth $2,575,000 after purchasing an additional 89 shares during the period. Finally, Hilton Capital Management LLC lifted its position in Dycom Industries by 16.6% during the fourth quarter. Hilton Capital Management LLC now owns 18,138 shares of the construction company's stock valued at $3,157,000 after purchasing an additional 2,578 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Dycom Industries
In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries 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 completion of the transaction, the director now directly owns 14,533 shares of the company's stock, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 4.28% of the stock is owned by corporate insiders.
Dycom Industries Price Performance
NYSE DY remained flat at $161.57 on Tuesday. 372,188 shares of the company's stock were exchanged, compared to its average volume of 357,151. The stock has a market cap of $4.68 billion, a PE ratio of 21.26, a PEG ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a one year low of $133.00 and a one year high of $207.20. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The stock's 50 day moving average is $173.59 and its 200 day moving average is $180.88.
Dycom Industries announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 3.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Raymond James raised their price objective on Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, February 4th. KeyCorp decreased their target price on shares of Dycom Industries from $229.00 to $201.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Finally, B. Riley dropped their price target on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Dycom Industries has an average rating of "Buy" and an average target price of $204.38.
Check Out Our Latest Stock Report on Dycom Industries
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.
Further Reading
Before you consider Dycom Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Dycom Industries wasn't on the list.
While Dycom Industries currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
