Foundry Partners LLC Has $567,000 Stock Holdings in Dycom Industries, Inc. (NYSE:DY)

Foundry Partners LLC boosted its stake in Dycom Industries, Inc. (NYSE:DY) by 12.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,259 shares of the construction company’s stock after acquiring an additional 353 shares during the quarter. Foundry Partners LLC’s holdings in Dycom Industries were worth $567,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC bought a new stake in shares of Dycom Industries during the fourth quarter worth about $211,000. Geode Capital Management LLC grew its holdings in Dycom Industries by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 659,190 shares of the construction company’s stock worth $114,765,000 after acquiring an additional 8,307 shares during the last quarter. Franklin Resources Inc. increased its position in Dycom Industries by 14.1% in the 4th quarter. Franklin Resources Inc. now owns 176,588 shares of the construction company’s stock valued at $30,737,000 after acquiring an additional 21,774 shares during the period. Schroder Investment Management Group raised its stake in shares of Dycom Industries by 11.3% during the fourth quarter. Schroder Investment Management Group now owns 2,863 shares of the construction company’s stock valued at $500,000 after acquiring an additional 291 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Dycom Industries by 8.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,190 shares of the construction company’s stock worth $729,000 after purchasing an additional 324 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Performance

Shares of DY stock opened at $138.55 on Friday. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. Dycom Industries, Inc. has a 52 week low of $133.00 and a 52 week high of $207.20. The firm has a 50 day moving average of $166.92 and a 200-day moving average of $179.16. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34.

Dycom Industries announced that its Board of Directors has approved a share 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 buy up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Dycom Industries

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on DY shares. KeyCorp lowered their target price on 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 lifted their price objective on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, February 4th. B. Riley decreased their target price on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company dropped their price target on shares of Dycom Industries from $215.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $202.50.

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.