Schonfeld Strategic Advisors LLC Has $10.86 Million Stock Position in Dycom Industries, Inc. (NYSE:DY)

Schonfeld Strategic Advisors LLC increased its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 101.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,393 shares of the construction company's stock after acquiring an additional 31,493 shares during the quarter. Schonfeld Strategic Advisors LLC owned 0.21% of Dycom Industries worth $10,860,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. SOA Wealth Advisors LLC. acquired a new stake in shares of Dycom Industries during the third quarter worth approximately $39,000. Westside Investment Management Inc. acquired a new position in shares of Dycom Industries in the third quarter worth $41,000. Anchor Investment Management LLC raised its holdings in shares of Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company's stock worth $53,000 after acquiring an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $59,000 after buying an additional 71 shares during the last quarter. Finally, GeoWealth Management LLC grew its position in Dycom Industries by 35.9% in the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock worth $61,000 after acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Analyst Upgrades and Downgrades

DY has been the topic of a number of recent analyst reports. KeyCorp dropped 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 report on Wednesday, April 16th. Raymond James boosted their price objective 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 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 research note on Wednesday, March 19th. JPMorgan Chase & Co. began 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 on the stock. Finally, Wells Fargo & Company decreased their price target on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $200.22.

Dycom Industries Trading Up 0.5 %

DY stock traded up $0.97 during midday trading on Tuesday, reaching $183.93. The company's stock had a trading volume of 42,612 shares, compared to its average volume of 402,511. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $207.20. The business's 50-day simple moving average is $155.61 and its 200-day simple moving average is $173.55. The stock has a market cap of $5.29 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27.

Dycom Industries announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Dycom Industries 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.