The Manufacturers Life Insurance Company Trims Stock Position in Dycom Industries, Inc. (NYSE:DY)

The Manufacturers Life Insurance Company cut its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,003 shares of the construction company's stock after selling 1,518 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Dycom Industries worth $3,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of Dycom Industries during the fourth quarter worth about $1,010,000. Penn Capital Management Company LLC purchased a new position in Dycom Industries in the 4th quarter worth approximately $12,821,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Dycom Industries by 55.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 148,879 shares of the construction company's stock worth $25,915,000 after buying an additional 53,027 shares during the last quarter. Quantessence Capital LLC purchased a new stake in shares of Dycom Industries during the 4th quarter valued at $276,000. Finally, State of Tennessee Department of Treasury lifted its holdings in shares of Dycom Industries by 4.3% during the 4th quarter. State of Tennessee Department of Treasury now owns 14,017 shares of the construction company's stock worth $2,440,000 after acquiring an additional 583 shares during the last quarter. 98.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Dycom Industries Stock Up 1.3 %

NYSE DY opened at $188.78 on Friday. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $207.20. The stock has a market capitalization of $5.43 billion, a PE ratio of 24.84, a PEG ratio of 1.29 and a beta of 1.27. 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 business's 50-day moving average is $157.66 and its 200 day moving average is $173.52.

Dycom Industries announced that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership 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.

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