Sei Investments Co. Lowers Position in Dycom Industries, Inc. (NYSE:DY)

Sei Investments Co. decreased its position in shares of Dycom Industries, Inc. (NYSE:DY) by 10.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 76,643 shares of the construction company’s stock after selling 9,097 shares during the period. Sei Investments Co. owned about 0.26% of Dycom Industries worth $13,340,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in Dycom Industries in the third quarter worth $28,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Dycom Industries in the 3rd quarter worth about $39,000. Westside Investment Management Inc. bought a new position in shares of Dycom Industries in the 3rd quarter worth about $41,000. Anchor Investment Management LLC lifted its position in Dycom Industries by 37.6% during the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock valued at $53,000 after acquiring an additional 73 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Dycom Industries by 26.3% during the fourth 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. Institutional investors own 98.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on DY. B. Riley decreased their target price on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. KeyCorp dropped their target price on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, Raymond James raised their price target on Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Dycom Industries presently has a consensus rating of “Buy” and an average price target of $204.38.

Dycom Industries Trading Down 0.3 %

Shares of NYSE:DY opened at $153.72 on Friday. Dycom Industries, Inc. has a 1 year low of $133.00 and a 1 year high of $207.20. The stock’s fifty day moving average price is $171.10 and its 200-day moving average price is $180.31. The company has a market cap of $4.45 billion, a P/E ratio of 20.23, a PEG 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.

Dycom Industries declared that its board has authorized a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Dycom Industries

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the transaction, the director now directly owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.28% of the company’s stock.

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.