Xponance Inc. Acquires 166 Shares of Dycom Industries, Inc. (NYSE:DY)

Xponance Inc. boosted its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,047 shares of the construction company’s stock after purchasing an additional 166 shares during the period. Xponance Inc.’s holdings in Dycom Industries were worth $356,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in DY. Stifel Financial Corp lifted its position in shares of Dycom Industries by 46.5% during the 3rd 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 during the period. Nordea Investment Management AB acquired a new position in Dycom Industries during the fourth quarter worth $1,171,000. JPMorgan Chase & Co. lifted its holdings in shares of Dycom Industries by 65.8% during the third quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock valued at $15,831,000 after acquiring an additional 31,864 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Dycom Industries by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock valued at $131,278,000 after purchasing an additional 27,370 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Dycom Industries by 209.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company’s stock worth $68,000 after purchasing an additional 264 shares during the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Stock Performance

DY stock opened at $157.95 on Thursday. The company has a 50 day moving average price of $172.54 and a 200 day moving average price of $180.66. Dycom Industries, Inc. has a fifty-two week low of $133.00 and a fifty-two week high of $207.20. 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 has a market capitalization of $4.58 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34.

Dycom Industries declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase 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.

Insider Activity

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $175.08, for a total value of $507,732.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. B. Riley cut their price target on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Raymond James boosted their target price on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 4th. Finally, KeyCorp dropped their price target on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $204.38.

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.