Sei Investments Co. Reduces Stake in Dycom Industries, Inc. (NYSE:DY)

Sei Investments Co. lessened its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,643 shares of the construction company's stock after selling 9,097 shares during the period. Sei Investments Co. owned about 0.26% of Dycom Industries worth $13,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Corient Private Wealth LLC raised its stake in Dycom Industries by 0.8% in the fourth quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company's stock worth $1,221,000 after buying an additional 55 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Dycom Industries by 11.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company's stock worth $98,000 after acquiring an additional 56 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Dycom Industries by 0.8% in the 4th quarter. Arizona State Retirement System now owns 8,447 shares of the construction company's stock valued at $1,470,000 after purchasing an additional 70 shares during the period. EverSource Wealth Advisors LLC boosted its position 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 valued at $59,000 after purchasing an additional 71 shares in the last quarter. Finally, Anchor Investment Management LLC grew its stake in 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 purchasing an additional 73 shares during the period. Institutional investors own 98.33% of the company's stock.

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Analyst Ratings Changes

A number of analysts have recently commented on the stock. Raymond James boosted their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a report on Tuesday, February 4th. B. Riley dropped 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 note on Wednesday, March 19th. Finally, KeyCorp decreased their target price 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $204.38.

Insider Buying and Selling

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $175.08, for a total value of $507,732.00. Following the completion of the transaction, the director now owns 14,533 shares of the company's stock, valued at approximately $2,544,437.64. The trade was a 16.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.28% of the stock is owned by company insiders.

Dycom Industries Stock Up 1.9 %

Shares of NYSE DY traded up $2.87 during midday trading on Wednesday, hitting $157.93. The stock had a trading volume of 291,322 shares, compared to its average volume of 381,294. The business's 50 day moving average is $168.88 and its 200-day moving average is $179.70. Dycom Industries, Inc. has a 52 week low of $133.00 and a 52 week high of $207.20. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The company has a market cap of $4.58 billion, a P/E ratio of 20.78, a PEG ratio of 1.29 and a beta of 1.34.

Dycom Industries declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 3.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

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.