Total Wealth Planning & Management Inc. Purchases Shares of 3,670 Dycom Industries, Inc. (NYSE:DY)

Total Wealth Planning & Management Inc. purchased a new stake in Dycom Industries, Inc. (NYSE:DY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,670 shares of the construction company's stock, valued at approximately $639,000.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised 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 worth $114,765,000 after acquiring an additional 8,307 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Dycom Industries by 142.9% in the 4th quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock valued at $86,405,000 after purchasing an additional 292,050 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Dycom Industries in the fourth quarter valued at about $80,584,000. Norges Bank purchased a new stake in Dycom Industries during the fourth quarter worth about $55,802,000. Finally, Northern Trust Corp grew its position in Dycom Industries by 8.7% during the fourth quarter. Northern Trust Corp now owns 320,481 shares of the construction company's stock worth $55,783,000 after buying an additional 25,571 shares during the period. Institutional investors and hedge funds own 98.33% of the company's stock.

Wall Street Analysts Forecast Growth

DY has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on shares of Dycom Industries from $215.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. DA Davidson upped their target price on Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a report on Friday, May 23rd. KeyCorp cut their price target 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. Finally, UBS Group boosted their price objective on shares of Dycom Industries from $234.00 to $258.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $241.25.

Dycom Industries Trading Up 0.6%

DY stock traded up $1.32 during midday trading on Friday, hitting $229.66. The stock had a trading volume of 403,498 shares, compared to its average volume of 414,858. Dycom Industries, Inc. has a 12-month low of $131.37 and a 12-month high of $230.57. The firm has a market cap of $6.61 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27. The company's 50-day moving average price is $173.93 and its 200 day moving average price is $176.02. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.47. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the business earned $2.12 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts predict that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Dycom Industries declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in outstanding 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 generally an indication that the company's leadership believes its shares are undervalued.

About Dycom Industries

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.