Aristotle Capital Boston LLC lowered its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 318,106 shares of the construction company's stock after selling 40,493 shares during the period. Dycom Industries comprises about 2.1% of Aristotle Capital Boston LLC's portfolio, making the stock its 7th largest holding. Aristotle Capital Boston LLC owned 1.09% of Dycom Industries worth $55,370,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DY. Barclays PLC grew its holdings in shares of Dycom Industries by 279.0% in the 3rd quarter. Barclays PLC now owns 57,923 shares of the construction company's stock valued at $11,419,000 after acquiring an additional 42,641 shares in the last quarter. Anchor Investment Management LLC increased 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 during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Dycom Industries during the 3rd quarter worth approximately $100,000. Franklin Resources Inc. boosted its holdings in shares of Dycom Industries by 17.7% in the 3rd quarter. Franklin Resources Inc. now owns 154,814 shares of the construction company's stock valued at $29,237,000 after buying an additional 23,270 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Dycom Industries by 4.3% in the third 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 in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Raymond James boosted their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. assumed coverage on Dycom Industries in a research report on Monday, April 21st. They issued an "overweight" rating and a $200.00 price objective for the company. Wells Fargo & Company dropped 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. KeyCorp decreased their price objective 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. Finally, B. Riley dropped their price target on Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. One 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. According to MarketBeat, Dycom Industries has an average rating of "Buy" and an average price target of $200.22.
Check Out Our Latest Research Report on DY
Dycom Industries Price Performance
Shares of DY traded down $0.85 during midday trading on Wednesday, hitting $183.06. The company's stock had a trading volume of 300,340 shares, compared to its average volume of 403,242. 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 $207.20. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27. The company's fifty day simple moving average is $156.04 and its two-hundred day simple moving average is $173.62.
Dycom Industries declared that its board has initiated a share buyback program on Wednesday, February 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 3.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.
Dycom Industries Company Profile
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Free Report)
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.
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