Axa S.A. Has $682,000 Position in Dycom Industries, Inc. (NYSE:DY)

Axa S.A. lessened its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 70.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,920 shares of the construction company's stock after selling 9,125 shares during the quarter. Axa S.A.'s holdings in Dycom Industries were worth $682,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DY. Principal Financial Group Inc. grew its position in 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 acquiring an additional 27,370 shares during the period. Geode Capital Management LLC grew its holdings in shares of Dycom Industries by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 659,190 shares of the construction company's stock worth $114,765,000 after purchasing an additional 8,307 shares during the last quarter. First Trust Advisors LP increased its position in shares of 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 purchasing an additional 292,050 shares in the last quarter. Norges Bank bought a new position in Dycom Industries during the 4th quarter valued at about $55,802,000. Finally, Northern Trust Corp boosted its position in Dycom Industries by 8.7% in the fourth quarter. Northern Trust Corp now owns 320,481 shares of the construction company's stock valued at $55,783,000 after buying an additional 25,571 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company's stock.

Dycom Industries Price Performance

Shares of DY stock opened at $188.78 on Friday. The firm's 50 day moving average price is $157.66 and its two-hundred day moving average price is $173.52. 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 stock has a market cap of $5.43 billion, a PE ratio of 24.84, a PEG ratio of 1.29 and a beta of 1.27.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. KeyCorp cut their target price on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Raymond James boosted their price objective on Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, February 4th. Wells Fargo & Company decreased their target price on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. B. Riley cut 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. Finally, JPMorgan Chase & Co. initiated coverage on shares of Dycom Industries in a report on Monday, April 21st. They set an "overweight" rating and a $200.00 price objective on the stock. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target 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.

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