Versor Investments LP Invests $235,000 in Dycom Industries, Inc. (NYSE:DY)

Versor Investments LP bought a new stake in Dycom Industries, Inc. (NYSE:DY) during the 4th quarter, Holdings Channel.com reports. The firm bought 1,349 shares of the construction company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB boosted its stake in shares of Dycom Industries by 11.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock valued at $98,000 after purchasing an additional 56 shares during the last quarter. First Horizon Advisors Inc. boosted 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 during the last quarter. 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 worth $53,000 after acquiring an additional 73 shares during the period. HighTower Advisors LLC grew its holdings in Dycom Industries by 4.5% during the 3rd quarter. HighTower Advisors LLC now owns 1,858 shares of the construction company’s stock worth $366,000 after acquiring an additional 80 shares during the period. Finally, Captrust Financial Advisors raised its position in shares of Dycom Industries by 4.6% in the 3rd quarter. Captrust Financial Advisors now owns 2,137 shares of the construction company’s stock worth $421,000 after acquiring an additional 94 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 company’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 completion of the sale, the director now owns 14,533 shares in the company, valued at approximately $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction 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 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 Stock Performance

NYSE DY opened at $152.61 on Wednesday. The company has a market cap of $4.45 billion, a P/E ratio of 20.08, a PEG ratio of 1.29 and a beta of 1.42. The company has a fifty day simple moving average of $181.21 and a 200 day simple moving average of $183.70. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a 12-month low of $128.40 and a 12-month high of $207.20.

Dycom Industries announced 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 reacquire up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. KeyCorp decreased their target price on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company raised their price objective 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. Raymond James boosted their target price 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, DA Davidson reissued a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a research note on Tuesday, November 19th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $205.38.

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.