JPMorgan Chase & Co. grew its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 119.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,572 shares of the construction company's stock after acquiring an additional 96,252 shares during the quarter. JPMorgan Chase & Co. owned about 0.61% of Dycom Industries worth $30,734,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Legacy Investment Solutions LLC acquired a new position in Dycom Industries in the 3rd quarter valued at about $28,000. SOA Wealth Advisors LLC. purchased a new position in shares of Dycom Industries in the 3rd quarter valued at approximately $39,000. Westside Investment Management Inc. acquired a new position in shares of Dycom Industries in the third quarter valued at approximately $41,000. Anchor Investment Management LLC increased its holdings in shares of Dycom Industries by 37.6% in the third 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 during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Dycom Industries by 26.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after purchasing an additional 71 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on DY. Wells Fargo & Company dropped 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 note on Thursday, April 3rd. B. Riley dropped their price target on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Raymond James raised 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 report on Tuesday, February 4th. Finally, KeyCorp dropped their target price on Dycom Industries from $229.00 to $201.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $202.50.
View Our Latest Stock Report on DY
Dycom Industries Price Performance
Shares of NYSE:DY traded up $2.34 during trading on Friday, hitting $153.41. 289,194 shares of the stock were exchanged, compared to its average volume of 390,606. The company has a market cap of $4.45 billion, a PE ratio of 20.18, a P/E/G ratio of 1.29 and a beta of 1.36. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The company has a fifty day moving average price of $161.88 and a two-hundred day moving average price of $176.92. Dycom Industries, Inc. has a 12-month low of $131.37 and a 12-month high of $207.20.
Dycom Industries announced that its board has authorized a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.
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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