Smartleaf Asset Management LLC Increases Position in Dycom Industries, Inc. (NYSE:DY)

Smartleaf Asset Management LLC boosted its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 209.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 390 shares of the construction company’s stock after acquiring an additional 264 shares during the period. Smartleaf Asset Management LLC’s holdings in Dycom Industries were worth $68,000 at the end of the most recent reporting period.

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

Dycom Industries Price Performance

Dycom Industries stock opened at $140.93 on Monday. The firm has a market cap of $4.08 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a 52-week low of $133.00 and a 52-week high of $207.20. 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 company’s 50 day moving average is $178.95 and its two-hundred day moving average is $182.50.

Dycom Industries announced that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

DY has been the subject of several analyst reports. Raymond James increased their price target on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 4th. KeyCorp dropped their price target 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. DA Davidson restated a “buy” rating and issued a $210.00 price objective on shares of Dycom Industries in a report on Tuesday, November 19th. Finally, 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. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $205.38.

Insiders Place Their Bets

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 8,873 shares of the company’s stock, valued at approximately $1,536,005.03. This represents a 4.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 14,533 shares in the company, valued at approximately $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.28% of the stock is owned by company insiders.

Dycom Industries 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.