XTX Topco Ltd Acquires New Position in Dycom Industries, Inc. (NYSE:DY)

XTX Topco Ltd acquired a new stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,071 shares of the construction company's stock, valued at approximately $360,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Barclays PLC increased its position in Dycom Industries by 279.0% during the 3rd quarter. Barclays PLC now owns 57,923 shares of the construction company's stock valued at $11,419,000 after purchasing an additional 42,641 shares during the period. Westside Investment Management Inc. bought a new position in shares of Dycom Industries in the 3rd quarter worth $41,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Dycom Industries during the 3rd quarter worth $39,000. Anchor Investment Management LLC lifted its position in Dycom Industries by 37.6% during the third 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 last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Dycom Industries during the third quarter valued at about $100,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Price Performance

Shares of NYSE DY traded up $0.78 during trading on Friday, hitting $165.25. The company had a trading volume of 357,974 shares, compared to its average volume of 401,539. Dycom Industries, Inc. has a fifty-two week low of $131.37 and a fifty-two 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 stock has a fifty day simple moving average of $155.34 and a two-hundred day simple moving average of $174.48. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 1.29 and a beta of 1.36.

Dycom Industries announced that its Board of Directors has initiated a share buyback 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 purchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DY. B. Riley decreased their price objective on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Wells Fargo & Company reduced their price objective on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. KeyCorp dropped their target price on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. started coverage on Dycom Industries in a report on Monday, April 21st. They issued an "overweight" rating and a $200.00 price target for the company. Finally, Raymond James raised their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $200.22.

About Dycom Industries

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.