First Horizon Advisors Inc. Grows Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

First Horizon Advisors Inc. raised its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 34.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 392 shares of the construction company’s stock after buying an additional 101 shares during the period. First Horizon Advisors Inc.’s holdings in Dycom Industries were worth $68,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DY. Creative Planning increased its holdings in Dycom Industries by 19.2% during the third quarter. Creative Planning now owns 6,560 shares of the construction company’s stock valued at $1,293,000 after buying an additional 1,055 shares during the last quarter. First Trust Direct Indexing L.P. bought a new position in shares of Dycom Industries during the third quarter worth $214,000. Mariner Investment Group LLC bought a new position in shares of Dycom Industries during the third quarter worth $507,000. Asset Management One Co. Ltd. bought a new position in shares of Dycom Industries during the third quarter worth $3,219,000. Finally, Radnor Capital Management LLC bought a new position in shares of Dycom Industries during the third quarter worth $3,041,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Price Performance

Dycom Industries stock opened at $162.11 on Friday. The firm has a 50-day moving average price of $181.83 and a 200-day moving average price of $184.22. The firm has a market capitalization of $4.73 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. 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 12-month low of $118.00 and a 12-month high of $207.20.

Dycom Industries declared that its board has approved a share repurchase plan 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 plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

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

Insider Transactions at Dycom Industries

In related news, Director Jennifer M. Fritzsche sold 430 shares of the firm’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 transaction, the director now owns 8,873 shares of the company’s stock, valued at $1,536,005.03. This trade represents a 4.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’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 transaction, the director now directly owns 14,533 shares in the company, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.28% of the company’s stock.

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.