Inceptionr LLC Makes New $229,000 Investment in Dycom Industries, Inc. (NYSE:DY)

Inceptionr LLC bought a new position in shares of Dycom Industries, Inc. (NYSE:DY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,318 shares of the construction company’s stock, valued at approximately $229,000.

Other hedge funds also recently bought and sold shares of the company. Stifel Financial Corp lifted its holdings in Dycom Industries by 46.5% during the third quarter. Stifel Financial Corp now owns 20,232 shares of the construction company’s stock worth $3,988,000 after buying an additional 6,418 shares during the period. Nordea Investment Management AB purchased a new stake in shares of Dycom Industries during the 4th quarter valued at $1,171,000. JPMorgan Chase & Co. lifted its holdings in shares of Dycom Industries by 65.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock valued at $15,831,000 after purchasing an additional 31,864 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Dycom Industries during the 3rd quarter valued at $773,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Dycom Industries by 19.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 37,911 shares of the construction company’s stock valued at $7,472,000 after purchasing an additional 6,128 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Insiders Place Their Bets

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total transaction of $74,437.30. Following the sale, the director now directly owns 8,873 shares of the company’s stock, valued at approximately $1,536,005.03. This trade represents a 4.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $507,732.00. Following the sale, the director now directly owns 14,533 shares in the company, valued at $2,544,437.64. This 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 insiders.

Dycom Industries Price Performance

NYSE DY opened at $136.53 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The stock’s fifty day moving average price is $178.95 and its 200 day moving average price is $182.50. Dycom Industries, Inc. has a 1 year low of $133.00 and a 1 year high of $207.20. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.29 and a beta of 1.34.

Dycom Industries announced that its board has approved a share buyback plan on Wednesday, February 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DY. Wells Fargo & Company increased their price objective on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Raymond James increased their price objective on Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 4th. KeyCorp decreased their price objective on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, DA Davidson reissued 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $205.38.

About Dycom Industries

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.