MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Dycom Industries, Inc. (NYSE:DY) by 5.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 218,023 shares of the construction company’s stock after purchasing an additional 11,359 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Dycom Industries were worth $37,949,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Corient Private Wealth LLC raised its holdings in Dycom Industries by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company’s stock worth $1,221,000 after purchasing an additional 55 shares during the period. Wilmington Savings Fund Society FSB grew its position in shares of Dycom Industries by 11.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock valued at $98,000 after purchasing an additional 56 shares in the last quarter. Arizona State Retirement System grew its position in shares of Dycom Industries by 0.8% during the fourth quarter. Arizona State Retirement System now owns 8,447 shares of the construction company’s stock valued at $1,470,000 after purchasing an additional 70 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Dycom Industries by 26.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock valued at $59,000 after purchasing an additional 71 shares in the last quarter. Finally, Ironwood Investment Management LLC grew its position in shares of Dycom Industries by 0.6% during the fourth quarter. Ironwood Investment Management LLC now owns 14,795 shares of the construction company’s stock valued at $2,575,000 after purchasing an additional 89 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on DY. B. Riley dropped their price target on Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Wells Fargo & Company lowered their price target on Dycom Industries from $215.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. JPMorgan Chase & Co. started coverage on Dycom Industries in a report on Monday, April 21st. They issued an “overweight” rating and a $200.00 price target for the company. KeyCorp reduced their price objective on shares of Dycom Industries from $201.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Raymond James boosted their price objective on shares of 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 investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $200.22.

Dycom Industries Price Performance

Shares of DY opened at $193.89 on Wednesday. The firm has a market capitalization of $5.58 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $207.20. The company’s fifty day moving average price is $159.44 and its 200-day moving average price is $173.37.

Dycom Industries announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors 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.