Great Lakes Advisors LLC Sells 2,449 Shares of Dycom Industries, Inc. (NYSE:DY)

Great Lakes Advisors LLC trimmed its position in Dycom Industries, Inc. (NYSE:DY) by 9.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,120 shares of the construction company’s stock after selling 2,449 shares during the quarter. Great Lakes Advisors LLC owned about 0.08% of Dycom Industries worth $4,024,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB increased its stake in Dycom Industries by 11.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock worth $98,000 after acquiring an additional 56 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Dycom Industries by 25.4% during the third quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock worth $57,000 after acquiring an additional 59 shares during the last quarter. Arizona State Retirement System increased its stake in Dycom Industries by 0.8% during the fourth quarter. Arizona State Retirement System now owns 8,447 shares of the construction company’s stock worth $1,470,000 after acquiring an additional 70 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake 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 during the last quarter. Finally, Anchor Investment Management LLC increased its stake in Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares during the last quarter. 98.33% of the stock is owned by institutional investors.

Dycom Industries Stock Up 5.5 %

Shares of NYSE DY opened at $155.52 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.29 and a beta of 1.34. The stock has a 50 day moving average price of $176.51 and a 200 day moving average price of $181.50. Dycom Industries, Inc. has a 52-week low of $133.00 and a 52-week high of $207.20.

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

Analyst Ratings Changes

A number of research firms have recently commented on DY. DA Davidson reaffirmed a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a research note on Tuesday, November 19th. Raymond James upped their target price on 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 cut their target price on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, Wells Fargo & Company upped their target price on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $205.38.

Insider Activity at Dycom Industries

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the sale, the director now owns 8,873 shares in the company, valued at $1,536,005.03. This represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $507,732.00. Following the sale, the director now owns 14,533 shares of the company’s stock, valued at approximately $2,544,437.64. This represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is owned by company 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.