Southernsun Asset Management LLC Cuts Holdings in Dycom Industries, Inc. (NYSE:DY)

Southernsun Asset Management LLC trimmed its holdings in Dycom Industries, Inc. (NYSE:DY) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,010 shares of the construction company’s stock after selling 13,542 shares during the quarter. Dycom Industries comprises about 4.8% of Southernsun Asset Management LLC’s portfolio, making the stock its 7th biggest position. Southernsun Asset Management LLC owned approximately 0.76% of Dycom Industries worth $38,817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DY. Corient Private Wealth LLC grew its stake in shares of Dycom Industries by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company’s stock valued at $1,221,000 after buying an additional 55 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in shares of Dycom Industries by 11.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock worth $98,000 after purchasing an additional 56 shares in the last quarter. Arizona State Retirement System increased its stake in Dycom Industries by 0.8% during the 4th quarter. Arizona State Retirement System now owns 8,447 shares of the construction company’s stock valued at $1,470,000 after purchasing an additional 70 shares in the last quarter. EverSource Wealth Advisors LLC raised 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 buying an additional 71 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its stake in shares of Dycom Industries by 37.6% in the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock valued at $53,000 after buying an additional 73 shares in the last quarter. Institutional investors own 98.33% of the company’s stock.

Analyst Upgrades and Downgrades

DY has been the subject of several recent research reports. KeyCorp decreased their target price on shares of Dycom Industries from $201.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Raymond James increased their price objective on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, February 4th. Wells Fargo & Company decreased their price target on Dycom Industries from $215.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. JPMorgan Chase & Co. initiated coverage on Dycom Industries in a research report on Monday. They issued an “overweight” rating and a $200.00 price target for the company. Finally, B. Riley reduced their target price on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $200.22.

Dycom Industries Trading Down 1.8 %

Shares of DY stock opened at $151.72 on Tuesday. Dycom Industries, Inc. has a 12-month low of $131.37 and a 12-month high of $207.20. 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 company has a 50 day moving average of $156.77 and a 200-day moving average of $175.18. The firm has a market cap of $4.37 billion, a P/E ratio of 19.96, a PEG ratio of 1.29 and a beta of 1.36.

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

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.