Victory Capital Management Inc. Decreases Stake in Dycom Industries, Inc. (NYSE:DY)

Victory Capital Management Inc. cut its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,442 shares of the construction company’s stock after selling 464 shares during the quarter. Victory Capital Management Inc.’s holdings in Dycom Industries were worth $2,340,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DY. Wilmington Savings Fund Society FSB boosted its holdings in shares of Dycom Industries by 11.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock worth $98,000 after acquiring an additional 56 shares during the period. First Horizon Advisors Inc. boosted its stake in Dycom Industries by 25.4% in the 3rd 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 period. Anchor Investment Management LLC grew its holdings in Dycom Industries by 37.6% during the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock valued at $53,000 after buying an additional 73 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Dycom Industries by 4.5% during the third quarter. HighTower Advisors LLC now owns 1,858 shares of the construction company’s stock valued at $366,000 after buying an additional 80 shares during the period. Finally, Captrust Financial Advisors increased its position in shares of Dycom Industries by 4.6% during the third quarter. Captrust Financial Advisors now owns 2,137 shares of the construction company’s stock valued at $421,000 after buying an additional 94 shares during the period. Institutional investors own 98.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DY shares. 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 boosted 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 report on Tuesday, February 4th. Finally, KeyCorp lowered their price objective on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $205.38.

Insider Transactions at Dycom Industries

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $175.08, for a total value of $507,732.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jennifer M. Fritzsche sold 430 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the sale, the director now directly owns 8,873 shares of the company’s stock, valued at $1,536,005.03. This 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 1.3 %

Shares of NYSE:DY opened at $157.53 on Tuesday. The firm has a market capitalization of $4.57 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. 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 52-week low of $133.00 and a 52-week high of $207.20. The firm has a fifty day moving average of $175.50 and a 200 day moving average of $181.42.

Dycom Industries announced that its board has approved a share buyback plan on Wednesday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to repurchase up to 3.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is 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.