Avantax Advisory Services Inc. Sells 1,658 Shares of Dycom Industries, Inc. (NYSE:DY)

Avantax Advisory Services Inc. cut its stake in Dycom Industries, Inc. (NYSE:DY) by 47.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,823 shares of the construction company’s stock after selling 1,658 shares during the period. Avantax Advisory Services Inc.’s holdings in Dycom Industries were worth $317,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp increased its holdings in shares of Dycom Industries by 46.5% during the third quarter. Stifel Financial Corp now owns 20,232 shares of the construction company’s stock worth $3,988,000 after buying an additional 6,418 shares in the last quarter. Nordea Investment Management AB bought a new stake in Dycom Industries during the 4th quarter worth $1,171,000. JPMorgan Chase & Co. increased its holdings in Dycom Industries by 65.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock worth $15,831,000 after purchasing an additional 31,864 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Dycom Industries by 4.3% during the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock worth $131,278,000 after acquiring an additional 27,370 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Dycom Industries by 209.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company’s stock worth $68,000 after purchasing an additional 264 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Price Performance

Shares of NYSE DY opened at $161.57 on Wednesday. The business’s fifty day moving average price is $173.21 and its 200-day moving average price is $180.82. Dycom Industries, Inc. has a one year low of $133.00 and a one year high of $207.20. The stock has a market capitalization of $4.68 billion, a PE ratio of 21.26, a P/E/G ratio of 1.29 and a beta of 1.34. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93.

Dycom Industries declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits 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.

Insider Buying and Selling 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 value of $507,732.00. Following the sale, the director now directly 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 4.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on DY shares. B. Riley dropped their target price on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Raymond James boosted their price target on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, KeyCorp decreased their price objective on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $204.38.

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.