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

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in 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 grew its position in Dycom Industries by 142.9% in 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 during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Dycom Industries in the 4th quarter worth $80,584,000. Norges Bank acquired a new stake in Dycom Industries in the 4th quarter worth $55,802,000. Finally, Northern Trust Corp grew its position in Dycom Industries by 8.7% in the 4th quarter. Northern Trust Corp now owns 320,481 shares of the construction company's stock worth $55,783,000 after purchasing an additional 25,571 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on DY. Wall Street Zen lowered shares of Dycom Industries from a "buy" rating to a "hold" rating in a research report on Friday. Wells Fargo & Company raised their price target on shares of Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday. B. Riley raised their price target on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. UBS Group raised their price objective on shares of Dycom Industries from $234.00 to $258.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Raymond James raised their price objective on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $241.25.

Dycom Industries Price Performance

Shares of NYSE:DY traded up $1.32 during midday trading on Friday, reaching $229.66. 403,498 shares of the company's stock were exchanged, compared to its average volume of 414,936. The company's 50 day simple moving average is $175.29 and its two-hundred day simple moving average is $176.30. The firm has a market capitalization 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. Dycom Industries, Inc. has a 12 month low of $131.37 and a 12 month high of $230.57. 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 (NYSE:DY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.47. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted $2.12 EPS. The firm's quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts expect 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 initiated a stock repurchase plan on Wednesday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is 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.