Dycom Industries, Inc. (NYSE:DY) Stake Boosted by Inspire Advisors LLC

Inspire Advisors LLC increased its position in shares of Dycom Industries, Inc. (NYSE:DY) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,940 shares of the construction company’s stock after purchasing an additional 184 shares during the quarter. Inspire Advisors LLC’s holdings in Dycom Industries were worth $1,208,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Accent Capital Management LLC acquired a new stake in Dycom Industries in the third quarter worth $25,000. Legacy Investment Solutions LLC acquired a new stake in Dycom Industries in the third quarter worth $28,000. SOA Wealth Advisors LLC. acquired a new stake in Dycom Industries in the third quarter worth $39,000. Westside Investment Management Inc. acquired a new stake in Dycom Industries in the third quarter worth $41,000. Finally, Anchor Investment Management LLC increased its position in Dycom Industries by 37.6% in the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares during the period. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Price Performance

NYSE:DY opened at $136.53 on Tuesday. The business’s 50-day moving average price is $178.95 and its 200 day moving average price is $182.50. The firm has a market cap of $3.96 billion, a P/E ratio of 17.96, a PEG ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a 52-week low of $133.00 and a 52-week high of $207.20. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89.

Dycom Industries declared that its board has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes 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 leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Jennifer M. Fritzsche sold 430 shares of the stock in a transaction on Wednesday, December 18th. The stock was 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 owns 8,873 shares in the company, 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 can be accessed through the SEC website. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction on 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 transaction, 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.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DY. Raymond James increased their target price on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 4th. KeyCorp lowered their price target on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company raised their price target on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, DA Davidson reissued a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company 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.