Crestline Management LP Grows Stake in Dycom Industries, Inc. (NYSE:DY)

Crestline Management LP boosted its position in shares of Dycom Industries, Inc. (NYSE:DY) by 317.9% in the fourth quarter, Holdings Channel reports. The fund owned 15,372 shares of the construction company’s stock after purchasing an additional 11,694 shares during the quarter. Crestline Management LP’s holdings in Dycom Industries were worth $2,676,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Alyeska Investment Group L.P. purchased a new stake in shares of Dycom Industries in the 4th quarter worth $80,584,000. Norges Bank purchased a new stake in Dycom Industries in the fourth quarter worth about $55,802,000. First Trust Advisors LP increased its position in Dycom Industries by 142.9% in the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company’s stock worth $86,405,000 after buying an additional 292,050 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of Dycom Industries in the fourth quarter worth about $50,234,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Dycom Industries by 119.8% during the 4th quarter. JPMorgan Chase & Co. now owns 176,572 shares of the construction company’s stock valued at $30,734,000 after buying an additional 96,252 shares in the last quarter. Institutional investors own 98.33% of the company’s stock.

Analyst Ratings Changes

DY has been the topic of a number of recent analyst reports. B. Riley decreased 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 note on Wednesday, March 19th. 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 report on Wednesday, April 16th. Raymond James upped their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company cut their price target 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. Finally, JPMorgan Chase & Co. began coverage on Dycom Industries in a research report on Monday, April 21st. They issued an “overweight” rating and a $200.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $200.22.

Dycom Industries Trading Down 0.5 %

Shares of Dycom Industries stock opened at $183.06 on Thursday. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month 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 business has a 50-day moving average price of $156.43 and a 200-day moving average price of $173.68. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 1.29 and a beta of 1.27.

Dycom Industries announced that its board 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 buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Dycom Industries 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.