Tower Research Capital LLC TRC Cuts Stake in Dycom Industries, Inc. (NYSE:DY)

Tower Research Capital LLC TRC cut its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 58.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,534 shares of the construction company's stock after selling 3,591 shares during the period. Tower Research Capital LLC TRC's holdings in Dycom Industries were worth $441,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. SOA Wealth Advisors LLC. purchased a new stake in Dycom Industries in the 3rd quarter worth $39,000. Westside Investment Management Inc. bought a new stake in Dycom Industries during the 3rd quarter valued at approximately $41,000. Anchor Investment Management LLC lifted its holdings in Dycom Industries by 37.6% in 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. EverSource Wealth Advisors LLC boosted its stake in Dycom Industries by 26.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after purchasing an additional 71 shares during the period. Finally, GeoWealth Management LLC grew its holdings 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 buying an additional 92 shares in the last quarter. Institutional investors own 98.33% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DY. KeyCorp dropped 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 report on Wednesday, April 16th. Raymond James boosted 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 cut their price target on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. JPMorgan Chase & Co. initiated coverage on Dycom Industries in a report on Monday, April 21st. They set an "overweight" rating and a $200.00 price objective on the stock. Finally, B. Riley cut their target price on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Dycom Industries currently has a consensus rating of "Buy" and a consensus price target of $200.22.

Dycom Industries Trading Up 4.3 %

Shares of Dycom Industries stock traded up $7.47 during trading on Friday, hitting $180.53. The stock had a trading volume of 488,289 shares, compared to its average volume of 403,868. Dycom Industries, Inc. has a 12 month low of $131.37 and a 12 month high of $207.20. 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 firm's fifty day simple moving average is $155.18 and its 200-day simple moving average is $173.99. The stock has a market cap of $5.20 billion, a PE ratio of 23.75, a PEG ratio of 1.29 and a beta of 1.36.

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

Dycom Industries Company 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.