Farther Finance Advisors LLC Cuts Position in Dycom Industries, Inc. (NYSE:DY)

Farther Finance Advisors LLC trimmed its holdings in Dycom Industries, Inc. (NYSE:DY) by 47.1% in the fourth quarter, HoldingsChannel reports. The fund owned 162 shares of the construction company’s stock after selling 144 shares during the period. Farther Finance Advisors LLC’s holdings in Dycom Industries were worth $28,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new stake in Dycom Industries in the third quarter valued at $28,000. SOA Wealth Advisors LLC. bought a new stake in Dycom Industries during the 3rd quarter valued at about $39,000. Westside Investment Management Inc. bought a new stake in Dycom Industries during the 3rd quarter valued at about $41,000. Anchor Investment Management LLC lifted its stake in shares of Dycom Industries by 37.6% in 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. Finally, First Horizon Advisors Inc. lifted its stake in shares of Dycom Industries by 25.4% in the third quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock worth $57,000 after buying an additional 59 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Trading Up 3.5 %

Shares of Dycom Industries stock opened at $161.77 on Tuesday. The business has a 50-day moving average price of $173.59 and a 200-day moving average price of $180.88. Dycom Industries, Inc. has a twelve month low of $133.00 and a twelve month high of $207.20. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 1.29 and a beta of 1.34.

Dycom Industries announced that its board has initiated a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in 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 often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

DY has been the subject of several analyst reports. KeyCorp reduced their price target 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, February 27th. Raymond James increased their price objective 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. Finally, B. Riley decreased their target price on Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $204.38.

Insider Activity at Dycom Industries

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.28% of the stock is owned by insiders.

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.