Dycom Industries, Inc. (NYSE:DY) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lessened its position in shares of Dycom Industries, Inc. (NYSE:DY) by 54.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 693 shares of the construction company’s stock after selling 823 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Dycom Industries were worth $121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Accent Capital Management LLC acquired a new position in shares of Dycom Industries during the 3rd quarter worth $25,000. Legacy Investment Solutions LLC purchased a new stake in Dycom Industries during the 3rd quarter worth about $28,000. SOA Wealth Advisors LLC. purchased a new stake in Dycom Industries during the 3rd quarter worth about $39,000. Westside Investment Management Inc. purchased a new stake in Dycom Industries during the 3rd quarter worth about $41,000. Finally, Anchor Investment Management LLC increased its position in Dycom Industries by 37.6% during the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Insider Activity

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction on 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 in the company, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction on 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 owns 8,873 shares in the company, valued at $1,536,005.03. This trade represents a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.28% of the company’s stock.

Dycom Industries Stock Up 5.5 %

NYSE DY opened at $155.52 on Monday. The stock has a market cap of $4.51 billion, a PE ratio of 20.46, a P/E/G ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a fifty-two week low of $133.00 and a fifty-two week high of $207.20. The business has a 50 day moving average price of $176.00 and a two-hundred day moving average price of $181.51. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. DA Davidson reaffirmed a “buy” rating and set a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday, November 19th. Raymond James increased 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 report on Tuesday, February 4th. Finally, KeyCorp dropped 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 report on Thursday, February 27th. One investment 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. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target 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.