Dycom Industries, Inc. (NYSE:DY) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its holdings in Dycom Industries, Inc. (NYSE:DY) by 10.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,758 shares of the construction company’s stock after purchasing an additional 3,847 shares during the quarter. Advisors Asset Management Inc.’s holdings in Dycom Industries were worth $7,268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hennessy Advisors Inc. acquired a new stake in shares of Dycom Industries in the fourth quarter valued at approximately $50,234,000. Reaves W H & Co. Inc. increased its stake in shares of Dycom Industries by 232.1% in the 4th quarter. Reaves W H & Co. Inc. now owns 117,429 shares of the construction company’s stock worth $20,440,000 after acquiring an additional 82,071 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Dycom Industries during the 3rd quarter worth $13,144,000. ARS Investment Partners LLC acquired a new position in shares of Dycom Industries during the 4th quarter valued at about $11,935,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Dycom Industries in the third quarter valued at about $12,223,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Raymond James lifted their target price 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. DA Davidson reaffirmed a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. Finally, KeyCorp lowered their price objective on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Dycom Industries presently has an average rating of “Buy” and an average target price of $205.38.

Insider Transactions at Dycom Industries

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the sale, the director now owns 14,533 shares of the company’s stock, valued at approximately $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.28% of the company’s stock.

Dycom Industries Stock Down 0.8 %

Dycom Industries stock opened at $156.26 on Wednesday. The company has a market capitalization of $4.53 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. 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, Inc. has a fifty-two week low of $133.00 and a fifty-two week high of $207.20. The firm has a 50 day moving average price of $175.08 and a 200 day moving average price of $181.28.

Dycom Industries announced that its Board of Directors has authorized a stock repurchase 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 generally an indication that the company’s leadership believes its shares are 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.