AQR Capital Management LLC Buys 2,069 Shares of Dycom Industries, Inc. (NYSE:DY)

AQR Capital Management LLC boosted its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,376 shares of the construction company's stock after purchasing an additional 2,069 shares during the period. AQR Capital Management LLC owned about 0.09% of Dycom Industries worth $4,591,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DY. Principal Financial Group Inc. raised its position in Dycom Industries by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company's stock valued at $131,278,000 after buying an additional 27,370 shares during the last quarter. Geode Capital Management LLC grew its position in Dycom Industries by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 659,190 shares of the construction company's stock valued at $114,765,000 after purchasing an additional 8,307 shares in the last quarter. First Trust Advisors LP lifted its position in Dycom Industries by 142.9% during the 4th quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock worth $86,405,000 after buying an additional 292,050 shares in the last quarter. Norges Bank acquired a new position in shares of Dycom Industries during the 4th quarter worth about $55,802,000. Finally, Northern Trust Corp grew its holdings 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 valued at $55,783,000 after acquiring an additional 25,571 shares in the last quarter. Institutional investors own 98.33% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on DY shares. Wells Fargo & Company lowered their price target on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. B. Riley cut their target price 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. JPMorgan Chase & Co. began coverage on Dycom Industries in a research note on Monday, April 21st. They set an "overweight" rating and a $200.00 target price on the stock. 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 report on Tuesday, February 4th. Finally, KeyCorp lowered their target price on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Dycom Industries presently has an average rating of "Buy" and an average price target of $200.22.

Dycom Industries Trading Up 0.7%

Shares of DY traded up $1.33 during trading hours on Tuesday, hitting $193.89. The company had a trading volume of 350,987 shares, compared to its average volume of 407,141. 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 52-week low of $131.37 and a 52-week high of $207.20. The firm has a market cap of $5.58 billion, a P/E ratio of 25.51, a P/E/G ratio of 1.29 and a beta of 1.27. The stock's 50 day moving average price is $159.44 and its 200 day moving average price is $173.37.

Dycom Industries declared that its Board of Directors has authorized a share 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 repurchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.