Crestline Management LP Has $2.68 Million Stock Position in Dycom Industries, Inc. (NYSE:DY)

Crestline Management LP lifted its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 317.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,372 shares of the construction company's stock after purchasing an additional 11,694 shares during the period. Crestline Management LP owned 0.05% of Dycom Industries worth $2,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in Dycom Industries by 26.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after buying an additional 71 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of Dycom Industries by 35.9% during the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock valued at $61,000 after acquiring an additional 92 shares during the period. Anchor Investment Management LLC grew its holdings in shares of Dycom Industries by 37.5% during the 4th quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock worth $64,000 after purchasing an additional 100 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Dycom Industries by 107.0% in the fourth quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock worth $67,000 after purchasing an additional 200 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Dycom Industries by 209.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company's stock worth $68,000 after purchasing an additional 264 shares during the period. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Price Performance

Shares of NYSE:DY traded up $1.62 during trading on Tuesday, hitting $194.18. 100,327 shares of the company were exchanged, compared to its average volume of 405,434. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $207.20. The company has a market capitalization of $5.59 billion, a P/E ratio of 25.55, 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. The business's 50 day moving average is $158.44 and its 200-day moving average is $173.23.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on DY. JPMorgan Chase & Co. started coverage on shares of Dycom Industries in a research note on Monday, April 21st. They set an "overweight" rating and a $200.00 price objective on the stock. Raymond James lifted their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research note on Tuesday, February 4th. KeyCorp cut their target price on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company decreased 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. Finally, B. Riley lowered 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 equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus 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.