Charles Schwab Investment Management Inc. Has $71.43 Million Position in Dycom Industries, Inc. (NYSE:DY)

Charles Schwab Investment Management Inc. reduced its holdings in Dycom Industries, Inc. (NYSE:DY) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 410,399 shares of the construction company’s stock after selling 7,452 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Dycom Industries were worth $71,434,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Accent Capital Management LLC acquired a new stake in Dycom Industries during the third quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new stake in Dycom Industries during the third quarter worth about $28,000. SOA Wealth Advisors LLC. acquired a new stake in Dycom Industries during the third quarter worth about $39,000. Westside Investment Management Inc. acquired a new stake in Dycom Industries during the third quarter worth about $41,000. Finally, Anchor Investment Management LLC grew its position in Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jennifer M. Fritzsche sold 430 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total value of $74,437.30. Following the sale, the director now directly owns 8,873 shares of the company’s stock, valued at approximately $1,536,005.03. This represents a 4.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’s 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 completion of the sale, the director now directly owns 14,533 shares in the company, valued at approximately $2,544,437.64. The trade was a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.28% of the company’s stock.

Analyst Ratings Changes

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

Dycom Industries Price Performance

Shares of NYSE DY opened at $144.31 on Wednesday. The firm has a market cap of $4.18 billion, a PE ratio of 18.99, a PEG ratio of 1.29 and a beta of 1.34. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a 1-year low of $133.00 and a 1-year high of $207.20. The company has a fifty day moving average price of $178.18 and a 200 day moving average price of $182.22.

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

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.