Hsbc Holdings PLC Decreases Position in Dycom Industries, Inc. (NYSE:DY)

Hsbc Holdings PLC lessened its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 32.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,644 shares of the construction company's stock after selling 3,634 shares during the quarter. Hsbc Holdings PLC's holdings in Dycom Industries were worth $1,335,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of Dycom Industries by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company's stock valued at $131,278,000 after purchasing an additional 27,370 shares in the last quarter. Geode Capital Management LLC raised its position in Dycom Industries by 1.3% during 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 during the period. First Trust Advisors LP lifted its holdings in Dycom Industries by 142.9% during the fourth 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. Norges Bank acquired a new stake in shares of Dycom Industries in the fourth quarter valued at about $55,802,000. Finally, Invesco Ltd. increased its stake in shares of Dycom Industries by 18.7% during the fourth quarter. Invesco Ltd. now owns 305,320 shares of the construction company's stock worth $53,144,000 after purchasing an additional 48,041 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. KeyCorp decreased 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. Raymond James upped their price target on Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research report on Tuesday, February 4th. B. Riley reduced their price objective 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. Wells Fargo & Company dropped their target price on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Dycom Industries in a research report on Monday, April 21st. They set an "overweight" rating and a $200.00 price target on the stock. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $200.22.

Dycom Industries Trading Up 0.6 %

DY traded up $1.18 on Wednesday, hitting $185.09. The company had a trading volume of 70,523 shares, compared to its average volume of 402,351. The company's fifty day moving average price is $156.04 and its 200 day moving average price is $173.62. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $207.20. 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 firm has a market cap of $5.33 billion, a P/E ratio of 24.34, a PEG ratio of 1.29 and a beta of 1.27.

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 shares. This buyback authorization authorizes the construction company to buy up to 3.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Dycom Industries Company 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.