Intech Investment Management LLC Raises Holdings in Dycom Industries, Inc. (NYSE:DY)

Intech Investment Management LLC lifted its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 74.0% in the fourth quarter, HoldingsChannel reports. The firm 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 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp grew its stake in Dycom Industries by 4.0% in the 3rd quarter. State Street Corp now owns 1,158,585 shares of the construction company’s stock worth $228,357,000 after acquiring an additional 44,321 shares during the period. FMR LLC grew its stake in Dycom Industries by 2.4% in the 3rd quarter. FMR LLC now owns 772,666 shares of the construction company’s stock worth $152,292,000 after acquiring an additional 17,862 shares during the period. Hill City Capital LP grew its stake in Dycom Industries by 2.3% in the 3rd quarter. Hill City Capital LP now owns 679,784 shares of the construction company’s stock worth $133,985,000 after acquiring an additional 15,000 shares during the period. Principal Financial Group Inc. grew its stake in Dycom Industries by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock worth $131,278,000 after acquiring an additional 27,370 shares during the period. Finally, Geode Capital Management LLC grew its stake in Dycom Industries by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 650,883 shares of the construction company’s stock worth $128,315,000 after acquiring an additional 9,113 shares during the period. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Stock Up 0.7 %

Shares of DY opened at $159.29 on Friday. 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 firm 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’s fifty day moving average is $174.28 and its two-hundred day moving average is $180.97. Dycom Industries, Inc. has a fifty-two week low of $133.00 and a fifty-two week high of $207.20.

Dycom Industries declared that its board has authorized a stock buyback plan on Wednesday, February 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have commented on DY. Raymond James lifted their target price 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. B. Riley decreased their price target on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, KeyCorp decreased their price target on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $204.38.

Insider Activity at Dycom Industries

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction on Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the transaction, the director now owns 14,533 shares in the company, valued at approximately $2,544,437.64. The trade was a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.28% of the company’s stock.

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.