Alyeska Investment Group L.P. Buys New Holdings in Dycom Industries, Inc. (NYSE:DY)

Alyeska Investment Group L.P. bought a new stake in Dycom Industries, Inc. (NYSE:DY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 462,968 shares of the construction company's stock, valued at approximately $80,584,000. Alyeska Investment Group L.P. owned approximately 1.59% of Dycom Industries as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Anchor Investment Management LLC boosted its stake in Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company's stock worth $53,000 after buying an additional 73 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after purchasing an additional 71 shares during the last quarter. GeoWealth Management LLC boosted its position in shares of Dycom Industries by 35.9% during the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock valued at $61,000 after buying an additional 92 shares during the period. Federated Hermes Inc. grew its stake in shares of Dycom Industries by 107.0% during the fourth quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock valued at $67,000 after buying an additional 200 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Dycom Industries by 34.7% during the 4th quarter. First Horizon Advisors Inc. now owns 392 shares of the construction company's stock worth $68,000 after acquiring an additional 101 shares during the last quarter. Institutional investors own 98.33% of the company's stock.

Dycom Industries Stock Performance

NYSE:DY traded up $1.06 during trading hours on Tuesday, hitting $184.02. 206,282 shares of the company were exchanged, compared to its average volume of 403,654. 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 52-week low of $131.37 and a 52-week high of $207.20. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.29 and a beta of 1.27. The company's 50 day moving average price is $156.04 and its 200-day moving average price is $173.62.

Dycom Industries declared that its Board of Directors has initiated a share buyback program 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 programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DY shares. KeyCorp reduced their target price on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. initiated coverage on Dycom Industries in a research report on Monday, April 21st. They set an "overweight" rating and a $200.00 target price for the company. Wells Fargo & Company cut their price target on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. B. Riley lowered their price objective on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Finally, Raymond James boosted their price target 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. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Dycom Industries presently has a consensus rating of "Buy" and an average target price of $200.22.

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.