Barclays PLC Has $9.91 Million Stock Position in Dycom Industries, Inc. (NYSE:DY)

Barclays PLC lessened its position in shares of Dycom Industries, Inc. (NYSE:DY) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,926 shares of the construction company’s stock after selling 997 shares during the quarter. Barclays PLC owned approximately 0.20% of Dycom Industries worth $9,909,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Westside Investment Management Inc. acquired a new position in Dycom Industries in the third quarter worth about $41,000. SOA Wealth Advisors LLC. acquired a new position in shares of Dycom Industries in the 3rd quarter worth approximately $39,000. Anchor Investment Management LLC lifted its position in shares of Dycom Industries by 37.6% during the 3rd 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 period. Wilmington Savings Fund Society FSB acquired a new stake in Dycom Industries in the 3rd quarter valued at $100,000. Finally, Franklin Resources Inc. grew its position in Dycom Industries by 17.7% in the third quarter. Franklin Resources Inc. now owns 154,814 shares of the construction company’s stock valued at $29,237,000 after acquiring an additional 23,270 shares during the period. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Stock Up 1.9 %

NYSE:DY opened at $154.41 on Wednesday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 1.29 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The stock’s fifty day moving average price is $156.14 and its two-hundred day moving average price is $175.04. Dycom Industries, Inc. has a 52-week low of $131.37 and a 52-week high of $207.20.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company cut their price objective on Dycom Industries from $215.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Raymond James lifted their price target 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. KeyCorp decreased their price objective on shares of Dycom Industries from $201.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. B. Riley cut their target price 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. Finally, JPMorgan Chase & Co. began coverage on Dycom Industries in a report on Monday. They issued an “overweight” rating and a $200.00 target price on the stock. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $200.22.

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.