EFG Asset Management North America Corp. Has $4.40 Million Stake in Dycom Industries, Inc. (NYSE:DY)

EFG Asset Management North America Corp. lifted its position in shares of Dycom Industries, Inc. (NYSE:DY) by 58.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,264 shares of the construction company’s stock after purchasing an additional 9,316 shares during the period. EFG Asset Management North America Corp. owned 0.09% of Dycom Industries worth $4,402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Corient Private Wealth LLC boosted its holdings in Dycom Industries by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company’s stock valued at $1,221,000 after purchasing an additional 55 shares during the period. Wilmington Savings Fund Society FSB grew its position in Dycom Industries by 11.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock worth $98,000 after buying an additional 56 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Dycom Industries by 25.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock worth $57,000 after acquiring an additional 59 shares during the period. Arizona State Retirement System raised its holdings in Dycom Industries by 0.8% in the 4th quarter. Arizona State Retirement System now owns 8,447 shares of the construction company’s stock valued at $1,470,000 after acquiring an additional 70 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Dycom Industries by 26.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock valued at $59,000 after acquiring an additional 71 shares during the period. 98.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DY. KeyCorp decreased 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. Raymond James raised their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 4th. Finally, B. Riley cut their price target on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Dycom Industries has an average rating of “Buy” and a consensus target price of $204.38.

Insiders Place Their Bets

In other Dycom Industries news, 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 completion of the transaction, the director now directly owns 14,533 shares in the company, valued at approximately $2,544,437.64. This trade represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.28% of the company’s stock.

Dycom Industries Price Performance

DY stock opened at $161.77 on Tuesday. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 1.29 and a beta of 1.34. 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 50 day simple moving average of $173.59 and a 200 day simple moving average of $180.88. Dycom Industries, Inc. has a 1 year low of $133.00 and a 1 year high of $207.20.

Dycom Industries declared that its board has initiated a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to buy up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.