Reaves W H & Co. Inc. Acquires 82,071 Shares of Dycom Industries, Inc. (NYSE:DY)

Reaves W H & Co. Inc. grew its holdings in Dycom Industries, Inc. (NYSE:DY) by 232.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,429 shares of the construction company’s stock after acquiring an additional 82,071 shares during the period. Reaves W H & Co. Inc. owned 0.40% of Dycom Industries worth $20,440,000 as of its most recent SEC filing.

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

Dycom Industries Price Performance

NYSE:DY opened at $160.81 on Tuesday. The stock has a market cap of $4.69 billion, a P/E ratio of 21.16, a PEG ratio of 1.29 and a beta of 1.42. Dycom Industries, Inc. has a one year low of $126.59 and a one year high of $207.20. The company has a fifty day moving average price of $181.49 and a 200 day moving average price of $183.91. 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 announced that its board has authorized a stock 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 believes its shares are undervalued.

Insider Activity

In other news, Director Jennifer M. Fritzsche sold 430 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total value of $74,437.30. Following the completion of the transaction, the director now owns 8,873 shares in the company, valued at approximately $1,536,005.03. This represents a 4.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the 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 completion of the transaction, the director now owns 14,533 shares of the company’s stock, valued at approximately $2,544,437.64. This represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.28% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. DA Davidson reaffirmed a “buy” rating and set a $210.00 price objective on shares of Dycom Industries in a report on Tuesday, November 19th. Raymond James upped their price objective 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 upped their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, KeyCorp cut their target price on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $205.38.

Dycom Industries Company 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.