Ieq Capital LLC Invests $250,000 in Dycom Industries, Inc. (NYSE:DY)

Ieq Capital LLC bought a new stake in Dycom Industries, Inc. (NYSE:DY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,436 shares of the construction company’s stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DY. Hennessy Advisors Inc. bought a new stake in shares of Dycom Industries during the 4th quarter worth about $50,234,000. Eagle Asset Management Inc. acquired a new stake in Dycom Industries during the third quarter worth approximately $13,144,000. ARS Investment Partners LLC bought a new stake in shares of Dycom Industries during the fourth quarter worth approximately $11,935,000. Point72 Asset Management L.P. acquired a new position in shares of Dycom Industries in the third quarter valued at approximately $12,223,000. Finally, New York State Common Retirement Fund increased its stake in shares of Dycom Industries by 600.6% during the fourth quarter. New York State Common Retirement Fund now owns 61,945 shares of the construction company’s stock worth $10,782,000 after purchasing an additional 53,103 shares during the period. Institutional investors own 98.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. DA Davidson restated a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. KeyCorp reduced their target price on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a research report on Thursday. Raymond James raised their price target on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company boosted their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $205.38.

Dycom Industries Trading Up 1.1 %

DY opened at $163.89 on Friday. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 1.29 and a beta of 1.42. 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 twelve month low of $123.90 and a twelve month high of $207.20. The company has a 50-day simple moving average of $181.69 and a 200 day simple moving average of $184.07.

Dycom Industries declared that its board has initiated a share buyback program on Wednesday, February 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 3.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Dycom Industries

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries 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 transaction, the director now owns 14,533 shares in the company, valued at $2,544,437.64. The trade was a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jennifer M. Fritzsche sold 430 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total value of $74,437.30. Following the transaction, the director now directly owns 8,873 shares of the company’s stock, valued at approximately $1,536,005.03. The trade was a 4.62 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is currently owned by insiders.

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.