Canada Pension Plan Investment Board boosted its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 175.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,100 shares of the construction company's stock after buying an additional 28,100 shares during the period. Canada Pension Plan Investment Board owned approximately 0.15% of Dycom Industries worth $7,676,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of DY. Nordea Investment Management AB acquired a new stake in shares of Dycom Industries during the 4th quarter worth approximately $1,171,000. JPMorgan Chase & Co. increased its holdings in Dycom Industries by 65.8% in the third quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company's stock valued at $15,831,000 after buying an additional 31,864 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Dycom Industries by 4.3% during the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company's stock worth $131,278,000 after acquiring an additional 27,370 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Dycom Industries by 209.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company's stock valued at $68,000 after acquiring an additional 264 shares during the period. Finally, Hennessy Advisors Inc. purchased a new position in shares of Dycom Industries in the 4th quarter valued at about $50,234,000. Institutional investors and hedge funds own 98.33% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on DY shares. JPMorgan Chase & Co. began coverage on Dycom Industries in a research report on Monday, April 21st. They set an "overweight" rating and a $200.00 price target on the stock. KeyCorp dropped their price target on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. B. Riley reduced their price objective on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Wells Fargo & Company decreased their price objective on shares of Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Finally, Raymond James boosted their target price 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. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $200.22.
Read Our Latest Stock Analysis on Dycom Industries
Dycom Industries Price Performance
DY stock traded up $0.78 during mid-day trading on Friday, reaching $165.25. The company's stock had a trading volume of 357,974 shares, compared to its average volume of 401,539. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The company's 50 day moving average is $155.34 and its two-hundred day moving average is $174.39. Dycom Industries, Inc. has a fifty-two week low of $131.37 and a fifty-two week high of $207.20. The stock has a market cap of $4.76 billion, a PE ratio of 21.74, a P/E/G ratio of 1.29 and a beta of 1.36.
Dycom Industries declared that its board has authorized a share buyback program on Wednesday, February 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.
About Dycom Industries
(
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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