Gamco Investors INC. ET AL Has $1.02 Million Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

Gamco Investors INC. ET AL lifted its stake in Dycom Industries, Inc. (NYSE:DY) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,840 shares of the construction company’s stock after acquiring an additional 545 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Dycom Industries were worth $1,017,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB acquired a new position in shares of Dycom Industries during the 4th quarter worth about $1,171,000. JPMorgan Chase & Co. grew its holdings in Dycom Industries by 65.8% during the third quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock worth $15,831,000 after purchasing an additional 31,864 shares during the period. Principal Financial Group Inc. grew its holdings in Dycom Industries by 4.3% during the third quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock worth $131,278,000 after purchasing an additional 27,370 shares during the period. Smartleaf Asset Management LLC increased its position in Dycom Industries by 209.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company’s stock worth $68,000 after buying an additional 264 shares during the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in Dycom Industries in the fourth quarter valued at approximately $50,234,000. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Trading Up 1.7 %

DY stock opened at $154.94 on Friday. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $207.20. The company has a market capitalization of $4.49 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.29 and a beta of 1.36. The company’s 50-day simple moving average is $158.31 and its 200 day simple moving average is $175.91. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12.

Dycom Industries declared that its Board of Directors has approved a stock buyback program 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on DY shares. KeyCorp decreased their target price on Dycom Industries from $201.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday. Raymond James upped their price objective 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. B. Riley cut 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. Finally, Wells Fargo & Company reduced their target price on shares of Dycom Industries from $215.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $200.25.

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.