Integrated Quantitative Investments LLC Buys Shares of 6,814 Dycom Industries, Inc. (NYSE:DY)

Integrated Quantitative Investments LLC purchased a new stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,814 shares of the construction company's stock, valued at approximately $1,186,000.

Several other institutional investors have also added to or reduced their stakes in DY. The Manufacturers Life Insurance Company lifted its holdings in shares of Dycom Industries by 3.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,521 shares of the construction company's stock valued at $4,045,000 after acquiring an additional 614 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Dycom Industries by 4.6% in the 3rd quarter. Captrust Financial Advisors now owns 2,137 shares of the construction company's stock valued at $421,000 after purchasing an additional 94 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Dycom Industries in the 3rd quarter worth approximately $81,000. HighTower Advisors LLC increased its position in shares of Dycom Industries by 4.5% during the 3rd quarter. HighTower Advisors LLC now owns 1,858 shares of the construction company's stock valued at $366,000 after purchasing an additional 80 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Dycom Industries by 3.7% during the 3rd quarter. Janus Henderson Group PLC now owns 41,292 shares of the construction company's stock valued at $8,134,000 after buying an additional 1,483 shares during the period. Hedge funds and other institutional investors own 98.33% of the company's stock.

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Dycom Industries Trading Up 2.4 %

Shares of NYSE:DY traded up $3.39 during trading on Wednesday, reaching $144.08. 148,671 shares of the company were exchanged, compared to its average volume of 513,621. The business's fifty day simple moving average is $164.53 and its 200-day simple moving average is $177.97. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. Dycom Industries, Inc. has a 12-month low of $131.37 and a 12-month high of $207.20. The firm has a market capitalization of $4.18 billion, a PE ratio of 18.96, a P/E/G ratio of 1.29 and a beta of 1.36.

Dycom Industries announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company's stock in a transaction dated 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 sale, the director now directly owns 14,533 shares of the company's stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.28% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on DY. Wells Fargo & Company cut 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. B. Riley cut their price target on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. KeyCorp decreased 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. Finally, Raymond James boosted their target price on Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $202.50.

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.