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

Schechter Investment Advisors LLC decreased its stake in Dycom Industries, Inc. (NYSE:DY) by 9.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,541 shares of the construction company’s stock after selling 855 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Dycom Industries were worth $1,487,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its position in Dycom Industries by 209.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company’s stock valued at $68,000 after purchasing an additional 264 shares during the last quarter. Williamson Legacy Group LLC raised its stake in shares of Dycom Industries by 4.6% during the 4th quarter. Williamson Legacy Group LLC now owns 4,463 shares of the construction company’s stock worth $777,000 after purchasing an additional 196 shares in the last quarter. Versor Investments LP acquired a new stake in shares of Dycom Industries in the 4th quarter valued at approximately $235,000. Oppenheimer & Co. Inc. grew its stake in shares of Dycom Industries by 7.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 7,831 shares of the construction company’s stock valued at $1,363,000 after buying an additional 561 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in Dycom Industries by 9.1% during the fourth quarter. Illinois Municipal Retirement Fund now owns 15,648 shares of the construction company’s stock worth $2,724,000 after buying an additional 1,299 shares during the last quarter. Institutional investors own 98.33% of the company’s stock.

Insider Transactions at Dycom Industries

In related news, Director Jennifer M. Fritzsche sold 430 shares of the company’s 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 transaction, the director now directly owns 8,873 shares in the company, valued at approximately $1,536,005.03. This represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries 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 sale, the director now owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is owned by corporate insiders.

Dycom Industries Stock Down 1.9 %

Dycom Industries stock opened at $160.81 on Tuesday. The company’s 50-day moving average price is $181.49 and its two-hundred day moving average price is $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 twelve month low of $126.59 and a twelve month high of $207.20.

Dycom Industries announced that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have commented on DY shares. 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 note on Friday, November 15th. DA Davidson reiterated a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a research note on Tuesday, November 19th. KeyCorp lowered their price target on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Raymond James upped their price objective on Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 4th. 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 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.