Algert Global LLC Sells 4,392 Shares of Dycom Industries, Inc. (NYSE:DY)

Algert Global LLC decreased its holdings in Dycom Industries, Inc. (NYSE:DY) by 26.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,167 shares of the construction company’s stock after selling 4,392 shares during the period. Algert Global LLC’s holdings in Dycom Industries were worth $2,118,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its position in shares of Dycom Industries by 279.0% during the third quarter. Barclays PLC now owns 57,923 shares of the construction company’s stock worth $11,419,000 after acquiring an additional 42,641 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Dycom Industries during the third quarter valued at about $100,000. Franklin Resources Inc. boosted its position in shares of Dycom Industries by 17.7% in the third quarter. Franklin Resources Inc. now owns 154,814 shares of the construction company’s stock valued at $29,237,000 after acquiring an additional 23,270 shares during the period. Principal Financial Group Inc. increased its holdings in Dycom Industries by 4.3% during the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock worth $131,278,000 after acquiring an additional 27,370 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Dycom Industries by 65.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock worth $15,831,000 after purchasing an additional 31,864 shares in the last quarter. Institutional investors own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

DY has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Dycom Industries from $215.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. KeyCorp decreased their price objective on shares of Dycom Industries from $201.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. started coverage on shares of Dycom Industries in a research note on Monday, April 21st. They issued an “overweight” rating and a $200.00 price target for the company. Raymond James lifted their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 4th. Finally, B. Riley lowered their price target on Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $200.22.

Dycom Industries Price Performance

DY opened at $186.47 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $207.20. The stock’s 50 day simple moving average is $156.94 and its 200 day simple moving average is $173.57. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.29 and a beta of 1.27.

Dycom Industries announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to buy up to 3.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.