Penn Capital Management Company LLC Purchases Shares of 73,658 Dycom Industries, Inc. (NYSE:DY)

Penn Capital Management Company LLC purchased a new stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 73,658 shares of the construction company's stock, valued at approximately $12,821,000. Penn Capital Management Company LLC owned approximately 0.25% of Dycom Industries at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. SOA Wealth Advisors LLC. acquired a new stake in Dycom Industries during the third quarter worth approximately $39,000. Westside Investment Management Inc. bought a new stake in Dycom Industries in the third quarter valued at $41,000. Anchor Investment Management LLC boosted its position in shares of Dycom Industries by 37.6% during the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company's stock worth $53,000 after purchasing an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Dycom Industries by 26.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock valued at $59,000 after buying an additional 71 shares in the last quarter. Finally, GeoWealth Management LLC raised its stake in Dycom Industries by 35.9% during the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock worth $61,000 after buying an additional 92 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Price Performance

NYSE DY traded up $0.31 on Tuesday, hitting $167.27. The stock had a trading volume of 64,593 shares, compared to its average volume of 400,236. The firm has a 50-day moving average of $155.07 and a 200-day moving average of $174.24. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. Dycom Industries, Inc. has a 52-week low of $131.37 and a 52-week high of $207.20. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 1.29 and a beta of 1.36.

Dycom Industries declared that its board has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

DY has been the subject of several recent research reports. B. Riley decreased their price objective on Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Raymond James lifted their target price on Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. began coverage on shares of Dycom Industries in a report on Monday, April 21st. They set an "overweight" rating and a $200.00 price target on the stock. KeyCorp decreased their price target on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company decreased their target price on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $200.22.

Dycom Industries Company 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.