MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Position in Dycom Industries, Inc. (NYSE:DY)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,023 shares of the construction company's stock after purchasing an additional 11,359 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.75% of Dycom Industries worth $37,949,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. EverSource Wealth Advisors LLC raised its position in shares of Dycom Industries by 26.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after buying an additional 71 shares in the last quarter. GeoWealth Management LLC raised its stake in Dycom Industries by 35.9% during the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock valued at $61,000 after purchasing an additional 92 shares during the last quarter. Anchor Investment Management LLC raised its stake in shares of Dycom Industries by 37.5% in the 4th quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock valued at $64,000 after buying an additional 100 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Dycom Industries by 107.0% during the 4th quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock worth $67,000 after purchasing an additional 200 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Dycom Industries by 34.7% during the 4th quarter. First Horizon Advisors Inc. now owns 392 shares of the construction company's stock worth $68,000 after acquiring an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Dycom Industries in a report on Monday, April 21st. They set an "overweight" rating and a $200.00 target price on the stock. 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 report on Wednesday, March 19th. Raymond James raised their target price on Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their target price on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Finally, KeyCorp cut their target price on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One 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 company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $200.22.

Dycom Industries Trading Up 1.3%

DY traded up $2.44 on Friday, hitting $194.54. The company had a trading volume of 302,199 shares, compared to its average volume of 406,714. The company has a market cap of $5.60 billion, a PE ratio of 25.60, a PEG ratio of 1.29 and a beta of 1.27. Dycom Industries, Inc. has a 12-month low of $131.37 and a 12-month high of $207.20. 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 business's fifty day simple moving average is $162.61 and its 200 day simple moving average is $173.64.

Dycom Industries announced that its Board of Directors has authorized a share repurchase 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 stock through open market purchases. Stock 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.