Dycom Industries, Inc. (NYSE:DY) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 410,399 shares of the construction company’s stock after selling 7,452 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.41% of Dycom Industries worth $71,434,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hennessy Advisors Inc. purchased a new position in Dycom Industries in the fourth quarter valued at about $50,234,000. Reaves W H & Co. Inc. boosted its holdings in Dycom Industries by 232.1% in the fourth quarter. Reaves W H & Co. Inc. now owns 117,429 shares of the construction company’s stock valued at $20,440,000 after purchasing an additional 82,071 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in Dycom Industries in the third quarter valued at about $13,144,000. ARS Investment Partners LLC purchased a new position in Dycom Industries in the fourth quarter valued at about $11,935,000. Finally, Point72 Asset Management L.P. purchased a new position in Dycom Industries in the third quarter valued at about $12,223,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Wall Street Analysts Forecast Growth

DY has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. DA Davidson restated a “buy” rating and set a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday, November 19th. KeyCorp cut 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, February 27th. Finally, Raymond James upped their price objective 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. 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. Based on data from MarketBeat.com, Dycom Industries currently has an average rating of “Buy” and a consensus target price of $205.38.

Insider Buying and Selling at Dycom Industries

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s 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 in the company, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were 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 approximately $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. Corporate insiders own 4.28% of the company’s stock.

Dycom Industries Price Performance

DY opened at $144.31 on Wednesday. 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, Inc. has a 12-month low of $133.00 and a 12-month high of $207.20. The stock has a fifty day moving average of $178.18 and a 200-day moving average of $182.22. The firm has a market capitalization of $4.18 billion, a P/E ratio of 18.99, a PEG ratio of 1.29 and a beta of 1.34.

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

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.