Wells Fargo & Company MN Purchases 12,529 Shares of Dycom Industries, Inc. (NYSE:DY)

Wells Fargo & Company MN increased its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 9.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,486 shares of the construction company’s stock after buying an additional 12,529 shares during the period. Wells Fargo & Company MN owned 0.48% of Dycom Industries worth $24,627,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Stifel Financial Corp lifted its stake in Dycom Industries by 46.5% in the 3rd quarter. Stifel Financial Corp now owns 20,232 shares of the construction company’s stock valued at $3,988,000 after acquiring an additional 6,418 shares in the last quarter. Nordea Investment Management AB bought a new position in Dycom Industries in the 4th quarter valued at about $1,171,000. JPMorgan Chase & Co. boosted its stake in Dycom Industries by 65.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock valued at $15,831,000 after purchasing an additional 31,864 shares during the period. Principal Financial Group Inc. boosted its position in shares of Dycom Industries by 4.3% in the third quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock valued at $131,278,000 after acquiring an additional 27,370 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Dycom Industries by 209.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company’s stock worth $68,000 after purchasing an additional 264 shares in the last quarter. 98.33% of the stock is owned by institutional investors.

Dycom Industries Trading Up 1.5 %

Shares of DY stock opened at $153.41 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The business has a 50-day moving average of $161.88 and a 200 day moving average of $176.92. The stock has a market capitalization of $4.45 billion, a PE ratio of 20.18, a P/E/G ratio of 1.29 and a beta of 1.36. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $207.20.

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

Analyst Upgrades and Downgrades

DY has been the topic of several recent analyst reports. B. Riley decreased their target price on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Wells Fargo & Company reduced their price objective on shares of Dycom Industries from $215.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. KeyCorp lowered their price target 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. Finally, Raymond James boosted their price objective 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. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Dycom Industries presently has a consensus rating of “Buy” and a consensus target price of $202.50.

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.