Southernsun Asset Management LLC Decreases Holdings in Dycom Industries, Inc. (NYSE:DY)

Southernsun Asset Management LLC trimmed its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 223,010 shares of the construction company's stock after selling 13,542 shares during the period. Dycom Industries comprises 4.8% of Southernsun Asset Management LLC's portfolio, making the stock its 7th largest position. Southernsun Asset Management LLC owned 0.76% of Dycom Industries worth $38,817,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SOA Wealth Advisors LLC. purchased a new position in shares of Dycom Industries during the third quarter valued at about $39,000. Westside Investment Management Inc. purchased a new position in shares of Dycom Industries during the third quarter valued at about $41,000. Anchor Investment Management LLC increased its position 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 valued at $53,000 after buying an additional 73 shares during the period. EverSource Wealth Advisors LLC increased its position 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 valued at $59,000 after buying an additional 71 shares during the period. Finally, GeoWealth Management LLC grew its holdings 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 purchasing an additional 92 shares during the period. 98.33% of the stock is owned by institutional investors.

Dycom Industries Stock Performance

NYSE:DY traded up $0.78 during trading hours on Friday, reaching $165.25. The company had a trading volume of 357,974 shares, compared to its average volume of 401,539. The company has a current ratio of 3.12, a quick ratio of 2.93 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 firm has a market cap of $4.76 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.29 and a beta of 1.36. The firm's 50 day moving average price is $155.34 and its 200-day moving average price is $174.39.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on DY. JPMorgan Chase & Co. began coverage on shares of Dycom Industries in a report on Monday, April 21st. They issued an "overweight" rating and a $200.00 price objective on the stock. Wells Fargo & Company cut their price objective on shares of Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. B. Riley cut their price objective 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. KeyCorp cut their price objective on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Raymond James upped their price objective 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. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Dycom Industries currently has a consensus rating of "Buy" and a consensus price target of $200.22.

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.