Penn Capital Management Company LLC Acquires New Holdings in Dycom Industries, Inc. (NYSE:DY)

Penn Capital Management Company LLC bought a new position in shares of Dycom Industries, Inc. (NYSE:DY) in the 4th quarter, HoldingsChannel reports. The fund bought 73,658 shares of the construction company’s stock, valued at approximately $12,821,000.

Other institutional investors have also made changes to their positions in the company. SOA Wealth Advisors LLC. acquired a new stake in shares of Dycom Industries during the third quarter worth about $39,000. Westside Investment Management Inc. purchased a new position in Dycom Industries in the 3rd quarter valued at approximately $41,000. Anchor Investment Management LLC boosted its position in Dycom Industries by 37.6% in the 3rd 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 during the period. EverSource Wealth Advisors LLC grew its stake in shares of Dycom Industries by 26.3% in 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. Finally, GeoWealth Management LLC increased its position in shares of Dycom Industries by 35.9% during the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company’s stock worth $61,000 after acquiring an additional 92 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Dycom Industries Stock Up 4.0 %

DY opened at $160.76 on Thursday. Dycom Industries, Inc. has a one year low of $131.37 and a one year high of $207.20. 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 stock has a market capitalization of $4.63 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 1.29 and a beta of 1.36. The business’s 50-day simple moving average is $155.80 and its 200-day simple moving average is $174.94.

Dycom Industries announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.