HighTower Advisors LLC lowered its holdings in shares of Dycom Industries, Inc. (NYSE:DY – Free Report) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,793 shares of the construction company’s stock after selling 65 shares during the period. HighTower Advisors LLC’s holdings in Dycom Industries were worth $312,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB increased its stake in Dycom Industries by 11.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock valued at $98,000 after acquiring an additional 56 shares during the period. Arizona State Retirement System lifted its holdings in Dycom Industries by 0.8% during 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 last quarter. Anchor Investment Management LLC grew its stake in Dycom Industries by 37.6% during 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. Captrust Financial Advisors increased its holdings in Dycom Industries by 4.6% during the 3rd quarter. Captrust Financial Advisors now owns 2,137 shares of the construction company’s stock valued at $421,000 after purchasing an additional 94 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Dycom Industries by 34.7% in the fourth quarter. First Horizon Advisors Inc. now owns 392 shares of the construction company’s stock valued at $68,000 after buying an additional 101 shares during the last quarter. Institutional investors own 98.33% of the company’s stock.
Insider Buying and Selling
In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the sale, the director now owns 14,533 shares of the company’s stock, valued at approximately $2,544,437.64. This trade represents a 16.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.28% of the stock is owned by insiders.
Dycom Industries Trading Up 1.5 %
NYSE DY opened at $154.67 on Wednesday. The company has a market capitalization of $4.48 billion, a PE ratio of 20.35, a P/E/G ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a 12 month low of $133.00 and a 12 month high of $207.20. The stock has a 50-day simple moving average of $169.56 and a 200 day simple moving average of $179.86. 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 has approved a share buyback program on Wednesday, February 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Analysts Set New Price Targets
A number of equities analysts have weighed in on DY shares. Raymond James boosted their target price 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. KeyCorp dropped their price objective on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, B. Riley cut their target price 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. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Dycom Industries presently has an average rating of “Buy” and an average price target of $204.38.
View Our Latest Report on Dycom Industries
About Dycom Industries
(Free Report)
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.
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