Algert Global LLC Sells 4,392 Shares of Dycom Industries, Inc. (NYSE:DY)

Algert Global LLC cut its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 26.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,167 shares of the construction company's stock after selling 4,392 shares during the quarter. Algert Global LLC's holdings in Dycom Industries were worth $2,118,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Alyeska Investment Group L.P. purchased a new stake in Dycom Industries during the 4th quarter valued at about $80,584,000. Schonfeld Strategic Advisors LLC boosted its holdings in Dycom Industries by 101.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 62,393 shares of the construction company's stock valued at $10,860,000 after acquiring an additional 31,493 shares during the period. AQR Capital Management LLC boosted its holdings in Dycom Industries by 8.5% during the 4th quarter. AQR Capital Management LLC now owns 26,376 shares of the construction company's stock valued at $4,591,000 after acquiring an additional 2,069 shares during the period. Northern Trust Corp boosted its holdings in Dycom Industries by 8.7% during the 4th quarter. Northern Trust Corp now owns 320,481 shares of the construction company's stock valued at $55,783,000 after acquiring an additional 25,571 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Dycom Industries during the 4th quarter valued at about $1,010,000. 98.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DY shares. JPMorgan Chase & Co. started coverage on Dycom Industries in a report on Monday, April 21st. They set an "overweight" rating and a $200.00 target price for the company. KeyCorp dropped their price objective on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company dropped their price objective on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. B. Riley dropped 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. Finally, Raymond James increased their price objective on Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a report on Tuesday, February 4th. One research 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 company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $200.22.

Dycom Industries Stock Up 2.2%

Shares of NYSE:DY traded up $4.22 during trading on Monday, hitting $192.65. The stock had a trading volume of 435,665 shares, compared to its average volume of 406,627. Dycom Industries, Inc. has a 12 month low of $131.37 and a 12 month high of $207.20. The company has a market capitalization of $5.54 billion, a PE ratio of 25.35, a PEG ratio of 1.29 and a beta of 1.27. The firm's fifty day moving average is $157.66 and its 200 day moving average is $173.22. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89.

Dycom Industries declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

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.