EverSource Wealth Advisors LLC Grows Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

EverSource Wealth Advisors LLC increased its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 26.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 341 shares of the construction company’s stock after buying an additional 71 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Dycom Industries were worth $59,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in Dycom Industries in the 3rd quarter valued at approximately $28,000. SOA Wealth Advisors LLC. purchased a new stake in Dycom Industries in the 3rd quarter valued at approximately $39,000. Westside Investment Management Inc. purchased a new stake in Dycom Industries in the 3rd quarter valued at approximately $41,000. Anchor Investment Management LLC boosted its holdings in Dycom Industries by 37.6% in the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock valued at $53,000 after purchasing an additional 73 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in Dycom Industries by 25.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock valued at $57,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Trading Up 1.5 %

Shares of Dycom Industries stock opened at $158.32 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. Dycom Industries, Inc. has a 1 year low of $133.00 and a 1 year high of $207.20. The company has a market capitalization of $4.59 billion, a P/E ratio of 20.83, a P/E/G ratio of 1.29 and a beta of 1.34. The business has a 50 day moving average price of $174.67 and a 200 day moving average price of $181.12.

Dycom Industries declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

DY has been the topic of a number of analyst reports. B. Riley lowered their price objective on Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday. Raymond James boosted their price target on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, KeyCorp decreased their price target 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. One investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $204.38.

Insider Buying and Selling

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries 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 directly owns 14,533 shares in the company, valued at $2,544,437.64. The trade was a 16.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.