KLP Kapitalforvaltning AS Takes $1.08 Million Position in Dycom Industries, Inc. (NYSE:DY)

KLP Kapitalforvaltning AS purchased a new stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,200 shares of the construction company's stock, valued at approximately $1,079,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in Dycom Industries during the 3rd quarter worth approximately $28,000. SOA Wealth Advisors LLC. purchased a new position in shares of Dycom Industries during the 3rd quarter valued at $39,000. Westside Investment Management Inc. bought a new position in shares of Dycom Industries in the third quarter worth $41,000. Anchor Investment Management LLC raised its position 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 worth $53,000 after buying an additional 73 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Dycom Industries by 26.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock valued at $59,000 after buying an additional 71 shares during the period. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Trading Down 6.3 %

Shares of DY traded down $10.01 during mid-day trading on Thursday, reaching $147.94. The company's stock had a trading volume of 460,760 shares, compared to its average volume of 381,919. Dycom Industries, Inc. has a 52 week low of $133.00 and a 52 week high of $207.20. The stock has a market cap of $4.29 billion, a PE ratio of 19.47, a P/E/G ratio of 1.29 and a beta of 1.34. The company's fifty day moving average price is $168.01 and its two-hundred day moving average price is $179.48. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89.

Remove Ads

Dycom Industries declared that its Board of Directors has initiated a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $175.08, for a total value of $507,732.00. Following the transaction, the director now directly owns 14,533 shares of the company's stock, valued at $2,544,437.64. The trade was a 16.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.28% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DY shares. Wells Fargo & Company decreased their target price on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday. B. Riley decreased their price objective on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Raymond James lifted their target price 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 cut their price target 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 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. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus 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.