Xponance Inc. Has $356,000 Stake in Dycom Industries, Inc. (NYSE:DY)

Xponance Inc. raised its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,047 shares of the construction company’s stock after buying an additional 166 shares during the quarter. Xponance Inc.’s holdings in Dycom Industries were worth $356,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DY. Legacy Investment Solutions LLC acquired a new position in Dycom Industries during the third quarter valued at approximately $28,000. SOA Wealth Advisors LLC. acquired a new position in shares of Dycom Industries in the 3rd quarter valued at $39,000. Westside Investment Management Inc. bought a new stake in shares of Dycom Industries in the 3rd quarter valued at $41,000. Anchor Investment Management LLC raised its stake 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 buying an additional 73 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Dycom Industries by 26.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock worth $59,000 after acquiring an additional 71 shares in the last quarter. 98.33% of the stock is owned by institutional investors.

Dycom Industries Price Performance

Shares of DY opened at $157.95 on Thursday. The company has a 50 day moving average of $172.54 and a 200-day moving average of $180.66. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $4.58 billion, a P/E ratio of 20.78, a P/E/G ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a twelve month low of $133.00 and a twelve month high of $207.20.

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

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 transaction of $507,732.00. Following the completion of the transaction, the director now directly owns 14,533 shares of the company’s stock, valued at approximately $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DY shares. Raymond James raised their price target 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. B. Riley dropped their target price on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Finally, KeyCorp reduced their price target on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $204.38.

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.