Dycom Industries, Inc. (NYSE:DY) Shares Sold by Applied Fundamental Research LLC

Applied Fundamental Research LLC lowered its position in shares of Dycom Industries, Inc. (NYSE:DY) by 0.6% during the fourth quarter, Holdings Channel reports. The fund owned 51,031 shares of the construction company’s stock after selling 296 shares during the quarter. Dycom Industries makes up 6.9% of Applied Fundamental Research LLC’s holdings, making the stock its 9th largest holding. Applied Fundamental Research LLC’s holdings in Dycom Industries were worth $8,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. raised its holdings in shares of Dycom Industries by 17.7% during the third quarter. Crossmark Global Holdings Inc. now owns 2,403 shares of the construction company’s stock worth $474,000 after acquiring an additional 362 shares in the last quarter. Victory Capital Management Inc. increased its position in Dycom Industries by 61.6% in the 3rd quarter. Victory Capital Management Inc. now owns 13,906 shares of the construction company’s stock worth $2,741,000 after purchasing an additional 5,303 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Dycom Industries by 17.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 7,270 shares of the construction company’s stock worth $1,433,000 after purchasing an additional 1,069 shares in the last quarter. KBC Group NV lifted its holdings in shares of Dycom Industries by 18.0% during the 3rd quarter. KBC Group NV now owns 872 shares of the construction company’s stock valued at $172,000 after buying an additional 133 shares during the last quarter. Finally, Accent Capital Management LLC bought a new stake in shares of Dycom Industries in the 3rd quarter valued at approximately $25,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Performance

NYSE:DY opened at $155.52 on Monday. The firm has a market capitalization of $4.51 billion, a PE ratio of 20.46, 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 company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The firm’s fifty day simple moving average is $176.00 and its 200 day simple moving average is $181.51.

Dycom Industries announced that its Board of Directors has authorized a share 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 usually an indication that the company’s board believes its stock is undervalued.

Insider Activity

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 transaction of $507,732.00. Following the sale, the director now directly owns 14,533 shares in the company, valued at $2,544,437.64. This represents a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 8,873 shares of the company’s stock, valued at $1,536,005.03. This represents a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DY has been the subject of a number of analyst reports. Raymond James lifted their target price 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. KeyCorp reduced their price objective on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Finally, DA Davidson reissued a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a research report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Dycom Industries presently has an average rating of “Buy” and a consensus price target of $205.38.

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.