Hilton Capital Management LLC Grows Position in Dycom Industries, Inc. (NYSE:DY)

Hilton Capital Management LLC raised its position in Dycom Industries, Inc. (NYSE:DY) by 16.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,138 shares of the construction company’s stock after acquiring an additional 2,578 shares during the quarter. Hilton Capital Management LLC owned approximately 0.06% of Dycom Industries worth $3,157,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DY. Accent Capital Management LLC bought a new stake in shares of Dycom Industries during the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in Dycom Industries during the third quarter valued at $28,000. SOA Wealth Advisors LLC. bought a new stake in Dycom Industries during the third quarter worth approximately $39,000. Westside Investment Management Inc. purchased a new stake in Dycom Industries during the 3rd quarter valued at $41,000. Finally, Anchor Investment Management LLC boosted its stake in shares of Dycom Industries by 37.6% during the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares during the period. 98.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Dycom Industries

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’s stock in a transaction on Friday, January 10th. The shares were 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 directly owns 14,533 shares in the company, valued at $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 currently owned by company insiders.

Analyst Upgrades and Downgrades

DY has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their target price on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Raymond James boosted their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, February 4th. KeyCorp dropped their price objective 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, DA Davidson reissued a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $205.38.

Dycom Industries Stock Performance

DY opened at $147.33 on Friday. The firm’s 50-day moving average price is $177.10 and its 200-day moving average price is $181.74. The company has a market cap of $4.27 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. 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, Inc. has a 52-week low of $133.00 and a 52-week high of $207.20.

Dycom Industries declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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.