Dycom Industries, Inc. (NYSE:DY) Shares Purchased by State of Wyoming

State of Wyoming lifted its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,974 shares of the construction company's stock after acquiring an additional 1,454 shares during the period. Dycom Industries accounts for 0.4% of State of Wyoming's holdings, making the stock its 20th largest position. State of Wyoming owned about 0.05% of Dycom Industries worth $2,780,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DY. EverSource Wealth Advisors LLC boosted its stake in shares of Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after acquiring an additional 71 shares during the last quarter. GeoWealth Management LLC lifted its position in Dycom Industries by 35.9% during the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock worth $61,000 after buying an additional 92 shares in the last quarter. Anchor Investment Management LLC lifted its position in Dycom Industries by 37.5% during the fourth quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock worth $64,000 after buying an additional 100 shares in the last quarter. Federated Hermes Inc. lifted its position in Dycom Industries by 107.0% during the fourth quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock worth $67,000 after buying an additional 200 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in Dycom Industries by 34.7% during the fourth quarter. First Horizon Advisors Inc. now owns 392 shares of the construction company's stock worth $68,000 after buying an additional 101 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DY has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday. KeyCorp reduced their target price on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lifted their target price on Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday. Raymond James lifted their target price on Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research report on Thursday. Finally, B. Riley reduced their target price on Dycom Industries from $234.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $218.33.

Dycom Industries Trading Down 0.0%

Shares of DY stock traded down $0.02 on Thursday, hitting $224.11. The stock had a trading volume of 690,736 shares, compared to its average volume of 495,191. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The firm has a market capitalization of $6.45 billion, a P/E ratio of 29.49, a P/E/G ratio of 1.29 and a beta of 1.27. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $228.66. The company's 50 day moving average price is $165.72 and its 200-day moving average price is $174.23.

Dycom Industries (NYSE:DY - Get Free Report) last released its earnings results on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.62 by $0.47. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the firm posted $2.12 EPS. Dycom Industries's revenue for the quarter was up 10.2% on a year-over-year basis. Analysts anticipate that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Dycom Industries declared that its board has approved a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors 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.