Victory Capital Management Inc. Sells 464 Shares of Dycom Industries, Inc. (NYSE:DY)

Victory Capital Management Inc. lowered its holdings in Dycom Industries, Inc. (NYSE:DY) by 3.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,442 shares of the construction company’s stock after selling 464 shares during the period. Victory Capital Management Inc.’s holdings in Dycom Industries were worth $2,340,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DY. Reaves W H & Co. Inc. lifted its stake in Dycom Industries by 232.1% in the fourth quarter. Reaves W H & Co. Inc. now owns 117,429 shares of the construction company’s stock worth $20,440,000 after acquiring an additional 82,071 shares during the period. Smartleaf Asset Management LLC raised its holdings in Dycom Industries by 209.5% in 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 in the last quarter. Williamson Legacy Group LLC lifted its position in shares of Dycom Industries by 4.6% in the 4th quarter. Williamson Legacy Group LLC now owns 4,463 shares of the construction company’s stock worth $777,000 after purchasing an additional 196 shares during the period. Versor Investments LP bought a new stake in shares of Dycom Industries during the 4th quarter valued at about $235,000. Finally, Oppenheimer & Co. Inc. increased its position in shares of Dycom Industries by 7.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 7,831 shares of the construction company’s stock valued at $1,363,000 after buying an additional 561 shares during the period. 98.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Dycom Industries

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of the stock in a transaction on 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 approximately $1,536,005.03. This trade represents a 4.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $175.08, for a total value of $507,732.00. Following the completion of the transaction, the director now owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is owned by company insiders.

Dycom Industries Stock Performance

Shares of DY opened at $157.53 on Tuesday. 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 stock has a market cap of $4.57 billion, a P/E ratio of 20.73, a P/E/G ratio of 1.29 and a beta of 1.34. The business’s 50 day moving average price is $175.50 and its 200-day moving average price is $181.42. Dycom Industries, Inc. has a 52 week low of $133.00 and a 52 week 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 repurchase $150.00 million in shares. This repurchase authorization allows the construction company to purchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently issued reports on DY shares. KeyCorp decreased 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 note on Thursday, February 27th. DA Davidson reissued a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a research report on Tuesday, November 19th. Finally, Raymond James lifted their price target on 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 research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $205.38.

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.