Dycom Industries, Inc. (NYSE:DY) Stock Position Lowered by Neumeier Poma Investment Counsel LLC

Neumeier Poma Investment Counsel LLC cut its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 12.0% in the 4th quarter, HoldingsChannel reports. The fund owned 247,959 shares of the construction company’s stock after selling 33,666 shares during the quarter. Dycom Industries accounts for 4.2% of Neumeier Poma Investment Counsel LLC’s portfolio, making the stock its 3rd biggest position. Neumeier Poma Investment Counsel LLC’s holdings in Dycom Industries were worth $43,160,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in Dycom Industries in the 3rd quarter worth $28,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Dycom Industries during the third quarter worth about $39,000. Westside Investment Management Inc. bought a new stake in shares of Dycom Industries in the third quarter worth about $41,000. Anchor Investment Management LLC increased its holdings in Dycom Industries by 37.6% during the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock valued at $53,000 after purchasing an additional 73 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Dycom Industries by 26.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock valued at $59,000 after purchasing an additional 71 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’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 value of $507,732.00. Following the sale, the director now directly owns 14,533 shares of the company’s stock, valued at $2,544,437.64. The trade was a 16.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.28% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DY. Raymond James lifted their price objective on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 4th. B. Riley cut their price target 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. Finally, KeyCorp decreased their price objective on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. 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. According to data from MarketBeat, Dycom Industries currently has a consensus rating of “Buy” and a consensus price target of $204.38.

Dycom Industries Price Performance

DY opened at $157.95 on Thursday. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. The stock has a fifty day simple moving average of $172.54 and a two-hundred day simple moving average of $180.66. Dycom Industries, Inc. has a 12-month low of $133.00 and a 12-month high of $207.20.

Dycom Industries announced that its board has approved a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

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.