Reaves W H & Co. Inc. Purchases 82,071 Shares of Dycom Industries, Inc. (NYSE:DY)

Reaves W H & Co. Inc. increased its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 232.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 117,429 shares of the construction company's stock after buying an additional 82,071 shares during the quarter. Reaves W H & Co. Inc. owned about 0.40% of Dycom Industries worth $20,440,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB lifted its stake in shares of Dycom Industries by 11.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company's stock worth $98,000 after purchasing an additional 56 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Dycom Industries by 25.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company's stock worth $57,000 after purchasing an additional 59 shares during the last quarter. Anchor Investment Management LLC increased its stake 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 during the last quarter. HighTower Advisors LLC raised its holdings in Dycom Industries by 4.5% in the third quarter. HighTower Advisors LLC now owns 1,858 shares of the construction company's stock valued at $366,000 after acquiring an additional 80 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in Dycom Industries by 4.6% in the third quarter. Captrust Financial Advisors now owns 2,137 shares of the construction company's stock valued at $421,000 after buying an additional 94 shares during the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DY shares. Wells Fargo & Company upped their target price on Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, November 15th. DA Davidson restated a "buy" rating and issued a $210.00 price objective on shares of Dycom Industries in a report on Tuesday, November 19th. Raymond James boosted their price objective on 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 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. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Dycom Industries presently has an average rating of "Buy" and an average price target of $205.38.

Dycom Industries Stock Down 1.8 %

DY stock traded down $2.59 during midday trading on Friday, reaching $140.93. The company had a trading volume of 869,988 shares, compared to its average volume of 347,073. The company has a 50 day moving average of $179.63 and a two-hundred day moving average of $182.93. The company has a market capitalization of $4.08 billion, a P/E ratio of 18.54, a PEG ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a 1 year low of $133.00 and a 1 year high of $207.20. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89.

Dycom Industries announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction that occurred 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 transaction, the director now owns 14,533 shares of the company's stock, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jennifer M. Fritzsche sold 430 shares of the firm's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the transaction, the director now owns 8,873 shares in the company, valued at $1,536,005.03. The trade was a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.28% of the stock is currently owned by corporate insiders.

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.