Swiss National Bank Has $9.96 Million Stake in Dycom Industries, Inc. (NYSE:DY)

Swiss National Bank increased its position in shares of Dycom Industries, Inc. (NYSE:DY) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,200 shares of the construction company’s stock after buying an additional 400 shares during the period. Swiss National Bank’s holdings in Dycom Industries were worth $9,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of Dycom Industries in the third quarter valued at $28,000. SOA Wealth Advisors LLC. acquired a new position in shares of Dycom Industries in the third quarter valued at $39,000. Westside Investment Management Inc. acquired a new position in shares of Dycom Industries in the third quarter valued at $41,000. Anchor Investment Management LLC increased its holdings in shares of Dycom Industries by 37.6% in the third 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 during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of Dycom Industries by 25.4% in the third 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 during the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on DY. Raymond James upped their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 4th. B. Riley decreased their price objective on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday. 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 investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $204.38.

Dycom Industries Trading Down 1.8 %

DY stock opened at $156.21 on Friday. Dycom Industries, Inc. has a 52 week low of $133.00 and a 52 week high of $207.20. The company’s 50-day simple moving average is $173.88 and its 200 day simple moving average is $180.83. 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 company has a market capitalization of $4.53 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34.

Dycom Industries declared that its board has approved a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were 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 of the company’s stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.28% of the stock is currently owned by company insiders.

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.