Intech Investment Management LLC Increases Stock Position in Dycom Industries, Inc. (NYSE:DY)

Intech Investment Management LLC boosted its stake in Dycom Industries, Inc. (NYSE:DY) by 74.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,386 shares of the construction company’s stock after acquiring an additional 5,694 shares during the period. Intech Investment Management LLC’s holdings in Dycom Industries were worth $2,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DY. 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. Anchor Investment Management LLC raised 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 buying an additional 73 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Dycom Industries by 25.4% in the third quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock valued at $57,000 after buying an additional 59 shares during the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dycom Industries

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction dated 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 transaction, the director now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.28% of the stock is currently owned by corporate insiders.

Dycom Industries Trading Up 0.7 %

Shares of Dycom Industries stock opened at $159.29 on Friday. Dycom Industries, Inc. has a 12-month low of $133.00 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 stock has a market cap of $4.62 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. The company has a 50-day moving average of $174.28 and a two-hundred day moving average of $180.97.

Dycom Industries declared that its Board of Directors has initiated a share buyback 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DY shares. KeyCorp reduced their target price on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. 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 report on Tuesday, February 4th. Finally, B. Riley reduced 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 report on Wednesday. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $204.38.

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.