Legato Capital Management LLC Increases Stake in Dycom Industries, Inc. (NYSE:DY)

Legato Capital Management LLC raised its position in Dycom Industries, Inc. (NYSE:DY) by 39.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,070 shares of the construction company’s stock after purchasing an additional 1,160 shares during the period. Legato Capital Management LLC’s holdings in Dycom Industries were worth $708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. State Street Corp increased its position in shares of Dycom Industries by 4.0% in the 3rd quarter. State Street Corp now owns 1,158,585 shares of the construction company’s stock valued at $228,357,000 after purchasing an additional 44,321 shares during the last quarter. FMR LLC increased its position in shares of Dycom Industries by 2.4% in the 3rd quarter. FMR LLC now owns 772,666 shares of the construction company’s stock valued at $152,292,000 after purchasing an additional 17,862 shares during the last quarter. Hill City Capital LP increased its position in shares of Dycom Industries by 2.3% in the 3rd quarter. Hill City Capital LP now owns 679,784 shares of the construction company’s stock valued at $133,985,000 after purchasing an additional 15,000 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Dycom Industries by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock valued at $131,278,000 after purchasing an additional 27,370 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Dycom Industries by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 650,883 shares of the construction company’s stock valued at $128,315,000 after buying an additional 9,113 shares during the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Stock Down 1.8 %

Shares of NYSE:DY opened at $185.44 on Friday. The stock has a market cap of $5.41 billion, a P/E ratio of 24.40, a P/E/G ratio of 1.51 and a beta of 1.42. The firm has a fifty day moving average price of $183.32 and a 200 day moving average price of $184.52. 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 $112.50 and a 1-year high of $207.20.

Insider Buying and Selling

In other news, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries 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 sale, the director now owns 8,873 shares of the company’s stock, valued at $1,536,005.03. The trade was a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’s 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 transaction, 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 owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. KeyCorp increased their target price on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Raymond James increased 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 increased their target price 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. Finally, DA Davidson reaffirmed a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a research report on Tuesday, November 19th. One investment 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’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $208.88.

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.