OVERSEA CHINESE BANKING Corp Ltd Purchases 22,450 Shares of Dycom Industries, Inc. (NYSE:DY)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 81.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,985 shares of the construction company's stock after purchasing an additional 22,450 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.17% of Dycom Industries worth $8,707,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Dycom Industries in the 3rd quarter valued at approximately $28,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Dycom Industries in the 3rd quarter valued at approximately $39,000. Westside Investment Management Inc. acquired a new stake in shares of Dycom Industries in the 3rd quarter valued at approximately $41,000. Anchor Investment Management LLC raised its position 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 acquiring an additional 73 shares during the period. Finally, First Horizon Advisors Inc. raised its position 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 acquiring an additional 59 shares during the period. Institutional investors own 98.33% of the company's stock.

Insider Transactions at Dycom Industries

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.28% of the company's stock.

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Dycom Industries Stock Down 1.8 %

Shares of DY traded down $2.94 during mid-day trading on Friday, hitting $156.21. 573,496 shares of the company's stock were exchanged, compared to its average volume of 357,665. The company has a market cap of $4.53 billion, a PE ratio of 20.55, a P/E/G ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a 52 week low of $133.00 and a 52 week high of $207.20. The company has a 50-day simple moving average of $173.88 and a 200 day simple moving average of $180.91. 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 declared that its Board of Directors has authorized a stock repurchase 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 shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have commented on the stock. B. Riley dropped their target price on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday. Raymond James raised their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a report on Tuesday, February 4th. Finally, KeyCorp dropped their target price on shares of Dycom Industries from $229.00 to $201.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $204.38.

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.