Versor Investments LP Invests $235,000 in Dycom Industries, Inc. (NYSE:DY)

Versor Investments LP purchased a new position in shares of Dycom Industries, Inc. (NYSE:DY) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,349 shares of the construction company’s stock, valued at approximately $235,000.

Other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp lifted its holdings in shares of Dycom Industries by 46.5% during the third quarter. Stifel Financial Corp now owns 20,232 shares of the construction company’s stock worth $3,988,000 after buying an additional 6,418 shares in the last quarter. Nordea Investment Management AB bought a new position in Dycom Industries during the fourth quarter worth about $1,171,000. JPMorgan Chase & Co. raised its stake in Dycom Industries by 65.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock worth $15,831,000 after purchasing an additional 31,864 shares in the last quarter. Whalen Wealth Management Inc. acquired a new stake in Dycom Industries in the 3rd quarter worth about $773,000. Finally, Advisors Asset Management Inc. boosted its holdings in Dycom Industries by 19.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 37,911 shares of the construction company’s stock valued at $7,472,000 after purchasing an additional 6,128 shares during the period. 98.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DY has been the topic of several recent research reports. DA Davidson reaffirmed a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. Raymond James raised their price objective on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, February 4th. KeyCorp cut their target price on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Wells Fargo & Company increased their target price on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $205.38.

Dycom Industries Price Performance

Dycom Industries stock opened at $152.61 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. Dycom Industries, Inc. has a 52 week low of $128.40 and a 52 week high of $207.20. The stock has a market capitalization of $4.45 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. The stock has a fifty day moving average of $181.21 and a 200-day moving average of $183.70.

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

Insiders Place Their Bets

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the sale, the director now owns 8,873 shares of the company’s stock, valued at approximately $1,536,005.03. The trade was a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the transaction, the director now owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.28% of the company’s stock.

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.