Dana Investment Advisors Inc. Reduces Stock Position in Dycom Industries, Inc. (NYSE:DY)

Dana Investment Advisors Inc. reduced its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,438 shares of the construction company’s stock after selling 6,381 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Dycom Industries were worth $9,650,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. First Trust Direct Indexing L.P. bought a new stake in Dycom Industries during the 3rd quarter worth approximately $214,000. Asset Management One Co. Ltd. bought a new stake in Dycom Industries during the 3rd quarter worth approximately $3,219,000. Radnor Capital Management LLC bought a new stake in Dycom Industries during the 3rd quarter worth approximately $3,041,000. 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, Crossmark Global Holdings Inc. increased its holdings in Dycom Industries by 17.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,403 shares of the construction company’s stock worth $474,000 after acquiring an additional 362 shares during the period. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Trading Up 0.5 %

NYSE:DY opened at $153.86 on Thursday. The company has a 50-day moving average price of $180.76 and a 200-day moving average price of $183.41. Dycom Industries, Inc. has a 12 month low of $130.57 and a 12 month high of $207.20. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 1.29 and a beta of 1.42.

Dycom Industries declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to purchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

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

Insider Transactions at Dycom Industries

In related news, Director Jennifer M. Fritzsche sold 430 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total value of $74,437.30. Following the completion of the transaction, the director now directly owns 8,873 shares in the company, valued at $1,536,005.03. This trade represents a 4.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the completion of the transaction, the director now owns 14,533 shares of the company’s stock, valued at approximately $2,544,437.64. The trade was a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.28% of the company’s stock.

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.