Dycom Industries, Inc. (NYSE:DY) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC trimmed its position in Dycom Industries, Inc. (NYSE:DY) by 9.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 23,120 shares of the construction company’s stock after selling 2,449 shares during the period. Great Lakes Advisors LLC’s holdings in Dycom Industries were worth $4,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Accent Capital Management LLC acquired a new stake in Dycom Industries during the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new stake in Dycom Industries during the 3rd quarter worth about $28,000. SOA Wealth Advisors LLC. acquired a new stake in Dycom Industries during the 3rd quarter worth about $39,000. Westside Investment Management Inc. acquired a new stake in Dycom Industries during the 3rd quarter worth about $41,000. Finally, Anchor Investment Management LLC grew its position in Dycom Industries by 37.6% during 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 during the period. 98.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Dycom Industries

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

Dycom Industries Trading Up 5.5 %

Shares of Dycom Industries stock opened at $155.52 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 stock’s 50 day simple moving average is $176.51 and its 200-day simple moving average is $181.50. The stock has a market cap of $4.51 billion, a P/E ratio of 20.46, a P/E/G 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.

Dycom Industries announced that its board has approved a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. KeyCorp lowered their target price on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Raymond James raised their price target on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $205.38.

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.