Oppenheimer Asset Management Inc. Sells 749 Shares of Dycom Industries, Inc. (NYSE:DY)

Oppenheimer Asset Management Inc. trimmed its holdings in Dycom Industries, Inc. (NYSE:DY) by 8.4% in the 4th quarter, HoldingsChannel reports. The firm owned 8,117 shares of the construction company’s stock after selling 749 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Dycom Industries were worth $1,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund lifted its holdings in shares of Dycom Industries by 9.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 15,648 shares of the construction company’s stock worth $2,724,000 after buying an additional 1,299 shares in the last quarter. Impax Asset Management Group plc lifted its stake in Dycom Industries by 100.0% in the 4th quarter. Impax Asset Management Group plc now owns 43,000 shares of the construction company’s stock worth $7,485,000 after purchasing an additional 21,500 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Dycom Industries by 35.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 4,179 shares of the construction company’s stock valued at $727,000 after purchasing an additional 1,085 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Dycom Industries by 34.7% during the 4th quarter. First Horizon Advisors Inc. now owns 392 shares of the construction company’s stock valued at $68,000 after purchasing an additional 101 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. grew its position in shares of Dycom Industries by 100.0% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 12,600 shares of the construction company’s stock valued at $2,193,000 after purchasing an additional 6,300 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DY has been the subject of a number of research reports. Raymond James increased their price target 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. DA Davidson reiterated a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a research report on Tuesday, November 19th. Wells Fargo & Company boosted their price target on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, KeyCorp decreased their price target on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company 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 business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 14,533 shares in the company, valued at $2,544,437.64. The trade was a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jennifer M. Fritzsche sold 430 shares of the company’s 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 transaction, the director now directly owns 8,873 shares in the company, valued at approximately $1,536,005.03. This represents a 4.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.28% of the company’s stock.

Dycom Industries Stock Performance

NYSE DY opened at $160.81 on Tuesday. The business’s 50 day moving average price is $181.49 and its 200-day moving average price is $183.91. Dycom Industries, Inc. has a fifty-two week low of $126.59 and a fifty-two week high of $207.20. The company has a market cap of $4.69 billion, a P/E ratio of 21.16, a P/E/G ratio of 1.29 and a beta of 1.42. 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 announced that its board has authorized a stock repurchase program on Wednesday, February 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are 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.