Howe & Rusling Inc. Cuts Stake in Dycom Industries, Inc. (NYSE:DY)

Howe & Rusling Inc. lessened its stake in Dycom Industries, Inc. (NYSE:DY) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,916 shares of the construction company’s stock after selling 179 shares during the quarter. Howe & Rusling Inc.’s holdings in Dycom Industries were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Corient Private Wealth LLC lifted its position in Dycom Industries by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company’s stock valued at $1,221,000 after acquiring an additional 55 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of Dycom Industries by 11.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock valued at $98,000 after purchasing an additional 56 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Dycom Industries by 0.8% during the fourth quarter. Arizona State Retirement System now owns 8,447 shares of the construction company’s stock valued at $1,470,000 after buying an additional 70 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 71 shares in the last quarter. Finally, Anchor Investment Management LLC raised its position 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 buying an additional 73 shares during the last quarter. Institutional investors own 98.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on DY. B. Riley reduced 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. Raymond James lifted their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, KeyCorp lowered their price target on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $204.38.

Dycom Industries Trading Down 2.0 %

Shares of DY stock opened at $154.55 on Friday. 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 company has a market cap of $4.48 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a 1 year low of $133.00 and a 1 year high of $207.20. The firm has a fifty day moving average price of $171.84 and a 200-day moving average price of $180.48.

Dycom Industries declared that its board has authorized a share repurchase plan on Wednesday, February 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 3.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Dycom Industries

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the sale, the director now owns 14,533 shares in the company, valued at approximately $2,544,437.64. This trade represents a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.28% of the stock is currently owned by corporate insiders.

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.