Interval Partners LP Raises Stake in Dycom Industries, Inc. (NYSE:DY)

Interval Partners LP lifted its position in shares of Dycom Industries, Inc. (NYSE:DY) by 70.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 108,322 shares of the construction company’s stock after buying an additional 44,688 shares during the quarter. Interval Partners LP’s holdings in Dycom Industries were worth $18,855,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. J. Goldman & Co LP raised its holdings in Dycom Industries by 25.4% in the 4th quarter. J. Goldman & Co LP now owns 90,253 shares of the construction company’s stock valued at $15,709,000 after acquiring an additional 18,289 shares during the last quarter. Kettle Hill Capital Management LLC acquired a new position in Dycom Industries in the fourth quarter valued at $6,150,000. Deutsche Bank AG lifted its position in Dycom Industries by 48.7% during the fourth quarter. Deutsche Bank AG now owns 25,294 shares of the construction company’s stock worth $4,403,000 after buying an additional 8,287 shares during the period. Crestline Management LP boosted its stake in Dycom Industries by 317.9% in the 4th quarter. Crestline Management LP now owns 15,372 shares of the construction company’s stock worth $2,676,000 after buying an additional 11,694 shares during the last quarter. Finally, Brevan Howard Capital Management LP grew its holdings in Dycom Industries by 2.9% in the 4th quarter. Brevan Howard Capital Management LP now owns 5,026 shares of the construction company’s stock valued at $875,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Dycom Industries in a report on Monday, April 21st. They set an “overweight” rating and a $200.00 price objective on the stock. KeyCorp decreased their price target on shares of Dycom Industries from $201.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company dropped 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. B. Riley reduced their target price on Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Finally, Raymond James upped their price target on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Dycom Industries presently has a consensus rating of “Buy” and a consensus target price of $200.22.

Dycom Industries Stock Performance

Shares of NYSE:DY opened at $188.78 on Friday. The business’s 50-day simple moving average is $157.66 and its 200 day simple moving average is $173.37. The company has a market cap of $5.43 billion, a P/E ratio of 24.84, a PEG ratio of 1.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. Dycom Industries, Inc. has a one year low of $131.37 and a one year high of $207.20.

Dycom Industries declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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.