Marshall Wace LLP Acquires New Position in Dycom Industries, Inc. (NYSE:DY)

Marshall Wace LLP bought a new stake in Dycom Industries, Inc. (NYSE:DY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,551 shares of the construction company's stock, valued at approximately $1,314,000.

A number of other hedge funds also recently added to or reduced their stakes in DY. Barclays PLC increased its stake in shares of Dycom Industries by 279.0% during the 3rd quarter. Barclays PLC now owns 57,923 shares of the construction company's stock worth $11,419,000 after purchasing an additional 42,641 shares in the last quarter. Westside Investment Management Inc. purchased a new position in shares of Dycom Industries during the 3rd quarter worth approximately $41,000. SOA Wealth Advisors LLC. purchased a new position in shares of Dycom Industries during the 3rd quarter worth approximately $39,000. Anchor Investment Management LLC increased its stake in shares of Dycom Industries by 37.6% during the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company's stock worth $53,000 after purchasing an additional 73 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Dycom Industries during the 3rd quarter worth approximately $100,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Stock Up 1.2 %

Shares of DY opened at $167.11 on Tuesday. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The firm has a market cap of $4.81 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.29 and a beta of 1.36. The company's fifty day moving average is $155.07 and its two-hundred day moving average is $174.24. Dycom Industries, Inc. has a fifty-two week low of $131.37 and a fifty-two week high of $207.20.

Dycom Industries declared that its board has authorized a stock buyback plan on Wednesday, February 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have commented on the stock. 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. Raymond James lifted their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, February 4th. B. Riley lowered their target price on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. JPMorgan Chase & Co. assumed coverage on shares of Dycom Industries in a research note on Monday, April 21st. They issued an "overweight" rating and a $200.00 target price for the company. Finally, KeyCorp lowered their target price 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. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Dycom Industries has an average rating of "Buy" and a consensus price target of $200.22.

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.

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