Amundi Raises Position in Dycom Industries, Inc. (NYSE:DY)

Amundi increased its holdings in Dycom Industries, Inc. (NYSE:DY) by 190.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 14,899 shares of the construction company’s stock after acquiring an additional 9,777 shares during the quarter. Amundi’s holdings in Dycom Industries were worth $2,667,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in DY. Accent Capital Management LLC purchased a new position in Dycom Industries in the 3rd quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in Dycom Industries in the 3rd quarter worth $28,000. SOA Wealth Advisors LLC. bought a new stake in Dycom Industries in the 3rd quarter worth $39,000. Westside Investment Management Inc. bought a new stake in Dycom Industries in the 3rd quarter worth $41,000. Finally, Anchor Investment Management LLC grew its holdings in Dycom Industries by 37.6% in the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Insider Activity

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’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 sale, the director now owns 14,533 shares of the company’s stock, 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 transaction of $74,437.30. Following the sale, the director now directly owns 8,873 shares in the company, valued at $1,536,005.03. The trade was a 4.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.28% of the company’s stock.

Dycom Industries Trading Up 5.5 %

Shares of DY opened at $155.52 on Monday. The firm’s 50-day moving average price is $176.00 and its 200-day moving average price is $181.51. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 20.46, 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.

Dycom Industries announced that its board has approved 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 buy up to 3.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. 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 report on Tuesday, February 4th. DA Davidson reissued a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th. Finally, KeyCorp cut their price target on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $205.38.

Dycom Industries 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.