Dana Investment Advisors Inc. Sells 6,381 Shares of Dycom Industries, Inc. (NYSE:DY)

Dana Investment Advisors Inc. cut its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,438 shares of the construction company’s stock after selling 6,381 shares during the period. Dana Investment Advisors Inc. owned approximately 0.19% of Dycom Industries worth $9,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp increased its position in shares of Dycom Industries by 4.0% during the third quarter. State Street Corp now owns 1,158,585 shares of the construction company’s stock worth $228,357,000 after acquiring an additional 44,321 shares in the last quarter. FMR LLC increased its position in shares of Dycom Industries by 2.4% during the third quarter. FMR LLC now owns 772,666 shares of the construction company’s stock worth $152,292,000 after acquiring an additional 17,862 shares in the last quarter. Hill City Capital LP increased its position in shares of Dycom Industries by 2.3% during the third quarter. Hill City Capital LP now owns 679,784 shares of the construction company’s stock worth $133,985,000 after acquiring an additional 15,000 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Dycom Industries by 4.3% during the third quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock worth $131,278,000 after acquiring an additional 27,370 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Dycom Industries by 1.4% during the third quarter. Geode Capital Management LLC now owns 650,883 shares of the construction company’s stock worth $128,315,000 after acquiring an additional 9,113 shares in the last quarter. 98.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on DY. Raymond James boosted their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 4th. KeyCorp cut their price target on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company boosted their price target on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, DA Davidson restated a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Dycom Industries currently has an average rating of “Buy” and an average target price of $205.38.

Dycom Industries Stock Up 0.5 %

DY opened at $153.86 on Thursday. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.29 and a beta of 1.42. Dycom Industries, Inc. has a twelve month low of $130.57 and a twelve month high of $207.20. The company’s 50-day moving average price is $180.76 and its two-hundred day moving average price is $183.41.

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

Insider Buying and Selling at Dycom Industries

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $175.08, for a total value of $507,732.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer M. Fritzsche sold 430 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the transaction, the director now owns 8,873 shares in the company, valued at approximately $1,536,005.03. The trade was 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.

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.