Y Intercept Hong Kong Ltd Raises Stake in Dycom Industries, Inc. (NYSE:DY)

Y Intercept Hong Kong Ltd boosted its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 35.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,179 shares of the construction company’s stock after purchasing an additional 1,085 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Dycom Industries were worth $727,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in DY. Accent Capital Management LLC purchased a new stake in shares of Dycom Industries in the third quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Dycom Industries in the third quarter valued at about $28,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Dycom Industries in the third quarter valued at about $39,000. Westside Investment Management Inc. purchased a new stake in shares of Dycom Industries in the third quarter valued at about $41,000. Finally, Anchor Investment Management LLC boosted its holdings 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 valued at $53,000 after acquiring an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Insider Transactions at Dycom Industries

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’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 value of $507,732.00. Following the completion of the sale, the director now directly owns 14,533 shares in the company, valued at approximately $2,544,437.64. The trade was a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer M. Fritzsche sold 430 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 8,873 shares of the company’s stock, valued at approximately $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. Insiders own 4.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DY shares. Raymond James raised their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 4th. Wells Fargo & Company raised their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. DA Davidson reiterated a “buy” rating and issued a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday, November 19th. Finally, KeyCorp reduced 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. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $205.38.

Dycom Industries Stock Performance

Shares of DY opened at $163.89 on Friday. The stock has a market cap of $4.78 billion, a P/E ratio of 21.56, a PEG ratio of 1.29 and a beta of 1.42. Dycom Industries, Inc. has a 12-month low of $123.90 and a 12-month 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. The company has a 50-day moving average of $181.69 and a two-hundred day moving average of $184.07.

Dycom Industries announced that its board has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.