Interval Partners LP Increases Stock Position in Dycom Industries, Inc. (NYSE:DY)

Interval Partners LP increased its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 70.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,322 shares of the construction company's stock after purchasing an additional 44,688 shares during the period. Interval Partners LP owned 0.37% of Dycom Industries worth $18,855,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Dycom Industries by 26.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after purchasing an additional 71 shares during the period. GeoWealth Management LLC lifted its stake in shares of Dycom Industries by 35.9% in the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock worth $61,000 after acquiring an additional 92 shares during the period. Anchor Investment Management LLC boosted its holdings in shares of Dycom Industries by 37.5% in the fourth quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock valued at $64,000 after acquiring an additional 100 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of 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 acquiring an additional 200 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings 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 purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on DY shares. KeyCorp lowered their price objective on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company dropped their price objective on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Raymond James raised their target price on Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. initiated coverage on shares of Dycom Industries in a research report on Monday, April 21st. They set an "overweight" rating and a $200.00 target price on the stock. Finally, B. Riley cut their price target on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $200.22.

Dycom Industries Stock Performance

NYSE:DY opened at $188.78 on Friday. 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 company has a market capitalization of $5.43 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27. The firm has a 50-day moving average price of $157.66 and a two-hundred day moving average price of $173.37. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $207.20.

Dycom Industries announced that its board has initiated a share repurchase 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 reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.