Dycom Industries, Inc. (NYSE:DY) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 67.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,571 shares of the construction company's stock after selling 27,721 shares during the quarter. Janus Henderson Group PLC's holdings in Dycom Industries were worth $2,365,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DY. Alyeska Investment Group L.P. purchased a new position in shares of Dycom Industries in the fourth quarter valued at $80,584,000. Norges Bank bought a new position in shares of Dycom Industries during the fourth quarter valued at approximately $55,802,000. First Trust Advisors LP increased its stake in Dycom Industries by 142.9% in the fourth 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 period. JPMorgan Chase & Co. lifted its position in shares of Dycom Industries by 119.8% during the fourth quarter. JPMorgan Chase & Co. now owns 176,572 shares of the construction company's stock worth $30,734,000 after purchasing an additional 96,252 shares during the last quarter. Finally, Reaves W H & Co. Inc. boosted its stake in shares of Dycom Industries by 232.1% during the fourth quarter. Reaves W H & Co. Inc. now owns 117,429 shares of the construction company's stock valued at $20,440,000 after purchasing an additional 82,071 shares during the period. Institutional investors own 98.33% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on DY. B. Riley upped their target price on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a research note on Thursday. UBS Group lifted their target price on Dycom Industries from $234.00 to $258.00 and gave the company a "buy" rating in a research report on Thursday. Raymond James increased their price target on Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price objective on Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Dycom Industries presently has an average rating of "Buy" and an average price target of $236.88.

Dycom Industries Stock Up 0.8%

Shares of NYSE:DY traded up $1.76 on Monday, reaching $225.97. The company had a trading volume of 793,240 shares, compared to its average volume of 415,188. The firm has a market capitalization of $6.50 billion, a PE ratio of 29.73, a PEG ratio of 1.29 and a beta of 1.27. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a 52-week low of $131.37 and a 52-week high of $228.66. The firm's 50 day simple moving average is $169.80 and its 200-day simple moving average is $175.05.

Dycom Industries (NYSE:DY - Get Free Report) last posted its 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. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.12 earnings per share. As a group, analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Dycom Industries announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Dycom Industries 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.