J. Goldman & Co LP Purchases 18,289 Shares of Dycom Industries, Inc. (NYSE:DY)

J. Goldman & Co LP raised its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 25.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,253 shares of the construction company's stock after purchasing an additional 18,289 shares during the period. J. Goldman & Co LP owned about 0.31% of Dycom Industries worth $15,709,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Barclays PLC boosted its stake in shares of Dycom Industries by 279.0% during the third quarter. Barclays PLC now owns 57,923 shares of the construction company's stock valued at $11,419,000 after purchasing an additional 42,641 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Dycom Industries by 4.3% during the third quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company's stock worth $131,278,000 after buying an additional 27,370 shares during the period. JPMorgan Chase & Co. boosted its position in Dycom Industries by 65.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company's stock valued at $15,831,000 after acquiring an additional 31,864 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of Dycom Industries in the 4th quarter valued at $1,171,000. Finally, Harbour Capital Advisors LLC bought a new position in shares of Dycom Industries in the 4th quarter worth $773,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Price Performance

Shares of DY opened at $188.78 on Friday. 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 company's fifty day moving average price is $157.66 and its 200-day moving average price is $173.37. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $207.20. The firm has a market capitalization of $5.43 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27.

Dycom Industries declared that its Board of Directors has initiated a stock repurchase program 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 programs are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

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.

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