Ameriprise Financial Inc. Sells 14,900 Shares of Dycom Industries, Inc. (NYSE:DY)

Ameriprise Financial Inc. lessened its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 13.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,065 shares of the construction company's stock after selling 14,900 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.33% of Dycom Industries worth $16,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DY. Geode Capital Management LLC raised its holdings in shares of Dycom Industries by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 659,190 shares of the construction company's stock worth $114,765,000 after acquiring an additional 8,307 shares in the last quarter. First Trust Advisors LP raised its stake in Dycom Industries by 142.9% during the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock valued at $86,405,000 after purchasing an additional 292,050 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Dycom Industries during the fourth quarter valued at $80,584,000. Norges Bank purchased a new position in shares of Dycom Industries in the 4th quarter worth $55,802,000. Finally, Northern Trust Corp grew its stake in shares of Dycom Industries by 8.7% in the 4th quarter. Northern Trust Corp now owns 320,481 shares of the construction company's stock worth $55,783,000 after buying an additional 25,571 shares in the last quarter. Institutional investors own 98.33% of the company's stock.

Dycom Industries Trading Down 1.3%

DY traded down $2.94 on Thursday, reaching $221.20. 64,040 shares of the company traded hands, compared to its average volume of 412,874. The company has a market cap of $6.37 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27. 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, Inc. has a one year low of $131.37 and a one year high of $228.66. The firm has a fifty day simple moving average of $165.72 and a two-hundred day simple moving average of $174.23.

Dycom Industries (NYSE:DY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.47. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm posted $2.12 earnings per share. The company's revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Dycom Industries announced that its board has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on DY shares. Wells Fargo & Company upped their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday. Raymond James upped their price objective 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. B. Riley dropped their target price on Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. JPMorgan Chase & Co. increased their price target on Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday. Finally, KeyCorp lowered 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. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Dycom Industries currently has a consensus rating of "Buy" and a consensus price target of $213.89.

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.