Marshall Wace LLP Takes $1.31 Million Position in Dycom Industries, Inc. (NYSE:DY)

Marshall Wace LLP bought a new position in shares of Dycom Industries, Inc. (NYSE:DY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,551 shares of the construction company’s stock, valued at approximately $1,314,000.

Several other institutional investors have also modified their holdings of DY. SOA Wealth Advisors LLC. acquired a new stake in Dycom Industries during the 3rd quarter valued at approximately $39,000. Westside Investment Management Inc. acquired a new position in shares of Dycom Industries in the 3rd quarter worth approximately $41,000. Anchor Investment Management LLC grew its position in shares of Dycom Industries by 37.6% in the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Dycom Industries by 26.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock worth $59,000 after acquiring an additional 71 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Dycom Industries by 107.0% in the 4th quarter. Federated Hermes Inc. now owns 387 shares of the construction company’s stock worth $67,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Up 1.2 %

Shares of Dycom Industries stock opened at $167.11 on Tuesday. The business’s fifty day moving average price is $155.07 and its two-hundred day moving average price is $174.24. 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 company has a market capitalization of $4.81 billion, a P/E ratio of 21.99, a PEG ratio of 1.29 and a beta of 1.36. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $207.20.

Dycom Industries announced that its Board of Directors has authorized a stock repurchase 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 buy up to 3.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

DY has been the subject of several research reports. Raymond James lifted 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. JPMorgan Chase & Co. initiated coverage on Dycom Industries in a research report on Monday, April 21st. They issued an “overweight” rating and a $200.00 target price for the company. KeyCorp decreased their target price on Dycom Industries from $201.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company decreased their target price on Dycom Industries from $215.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Finally, B. Riley decreased their target price on Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $200.22.

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.