Schechter Investment Advisors LLC Sells 855 Shares of Dycom Industries, Inc. (NYSE:DY)

Schechter Investment Advisors LLC trimmed its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 9.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,541 shares of the construction company’s stock after selling 855 shares during the period. Schechter Investment Advisors LLC’s holdings in Dycom Industries were worth $1,487,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hennessy Advisors Inc. acquired a new stake in shares of Dycom Industries in the 4th quarter valued at $50,234,000. Eagle Asset Management Inc. acquired a new stake in Dycom Industries in the third quarter worth about $13,144,000. ARS Investment Partners LLC acquired a new stake in Dycom Industries in the fourth quarter worth about $11,935,000. Point72 Asset Management L.P. bought a new stake in Dycom Industries during the 3rd quarter worth about $12,223,000. Finally, New York State Common Retirement Fund lifted its position in Dycom Industries by 600.6% during the 4th quarter. New York State Common Retirement Fund now owns 61,945 shares of the construction company’s stock valued at $10,782,000 after purchasing an additional 53,103 shares during the period. 98.33% of the stock is owned by institutional investors.

Insider Transactions at Dycom Industries

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total value of $74,437.30. Following the sale, the director now owns 8,873 shares of the company’s stock, valued at $1,536,005.03. This trade represents a 4.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’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 completion of the sale, the director now owns 14,533 shares in the company, valued at approximately $2,544,437.64. This trade represents a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.28% of the stock is currently owned by insiders.

Dycom Industries Price Performance

DY opened at $160.81 on Tuesday. The company has a fifty day simple moving average of $181.49 and a 200 day simple moving average of $183.91. 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 cap of $4.69 billion, a P/E ratio of 21.16, a P/E/G ratio of 1.29 and a beta of 1.42. Dycom Industries, Inc. has a 12 month low of $126.59 and a 12 month high of $207.20.

Dycom Industries announced that its board has approved a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in outstanding 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 often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

DY has been the subject of several analyst reports. DA Davidson reiterated a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. Raymond James upped their target price 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. Wells Fargo & Company raised their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, KeyCorp decreased their price objective on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Dycom Industries presently has an average rating of “Buy” and a consensus price target of $205.38.

Dycom Industries Company 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.