Dycom Industries, Inc. (NYSE:DY) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its holdings in Dycom Industries, Inc. (NYSE:DY) by 10.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,758 shares of the construction company’s stock after acquiring an additional 3,847 shares during the quarter. Advisors Asset Management Inc. owned 0.14% of Dycom Industries worth $7,268,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new stake in Dycom Industries in the third quarter valued at $28,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Dycom Industries in the third quarter worth about $39,000. Westside Investment Management Inc. acquired a new stake in Dycom Industries during the third quarter worth about $41,000. Anchor Investment Management LLC grew its holdings in Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares during the period. Finally, First Horizon Advisors Inc. raised its position in Dycom Industries by 25.4% during the third quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock valued at $57,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Price Performance

Shares of NYSE DY opened at $156.26 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The firm has a fifty day moving average of $175.08 and a 200 day moving average of $181.28. The firm has a market cap of $4.53 billion, a PE ratio of 20.56, a PEG ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a one year low of $133.00 and a one year high of $207.20.

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

Wall Street Analysts Forecast Growth

DY has been the topic of several recent research reports. Raymond James upped their price objective on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 4th. DA Davidson reissued a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th. Finally, KeyCorp cut their price objective on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $205.38.

Insider Activity

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the 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 of the company’s stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.28% of the company’s stock.

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.