Y Intercept Hong Kong Ltd Grows Position in Dycom Industries, Inc. (NYSE:DY)

Y Intercept Hong Kong Ltd lifted its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 35.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,179 shares of the construction company’s stock after buying an additional 1,085 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Dycom Industries were worth $727,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in DY. Wilmington Savings Fund Society FSB lifted its stake in Dycom Industries by 11.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock worth $98,000 after purchasing an additional 56 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Dycom Industries by 25.4% during the third quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock worth $57,000 after purchasing an additional 59 shares during the last quarter. Anchor Investment Management LLC lifted its stake in Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares during the last quarter. HighTower Advisors LLC lifted its stake in Dycom Industries by 4.5% during the third quarter. HighTower Advisors LLC now owns 1,858 shares of the construction company’s stock worth $366,000 after purchasing an additional 80 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Dycom Industries by 4.6% during the third quarter. Captrust Financial Advisors now owns 2,137 shares of the construction company’s stock worth $421,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Analyst Ratings Changes

DY has been the topic of several research analyst reports. KeyCorp reduced their price objective on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a research note on Thursday. Raymond James raised their target price on Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 4th. DA Davidson reiterated a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company raised their target price on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Dycom Industries currently has an average rating of “Buy” and an average target price of $205.38.

Insider Activity

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the transaction, the director now directly owns 14,533 shares of the company’s stock, valued at $2,544,437.64. The trade was a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total value of $74,437.30. Following the transaction, the director now directly owns 8,873 shares in the company, valued at approximately $1,536,005.03. The trade was a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.28% of the company’s stock.

Dycom Industries Price Performance

Shares of DY opened at $163.89 on Friday. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. 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 $123.90 and a one year high of $207.20. The stock’s fifty day moving average is $181.69 and its 200-day moving average is $184.07.

Dycom Industries declared that its board has initiated a share repurchase program on Wednesday, February 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership 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.