Dycom Industries, Inc. (NYSE:DY) Shares Bought by Ironwood Investment Management LLC

Ironwood Investment Management LLC grew its position in Dycom Industries, Inc. (NYSE:DY) by 0.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,795 shares of the construction company’s stock after acquiring an additional 89 shares during the quarter. Dycom Industries comprises about 1.3% of Ironwood Investment Management LLC’s holdings, making the stock its 18th largest position. Ironwood Investment Management LLC’s holdings in Dycom Industries were worth $2,575,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Accent Capital Management LLC purchased a new stake in Dycom Industries during the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Dycom Industries in the third quarter valued at approximately $28,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Dycom Industries during the third quarter worth $39,000. Westside Investment Management Inc. acquired a new stake in shares of Dycom Industries during the third quarter worth $41,000. Finally, Anchor Investment Management LLC grew its position in Dycom Industries by 37.6% in the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock valued at $53,000 after buying an additional 73 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Trading Up 5.5 %

NYSE:DY opened at $155.52 on Friday. The company has a market capitalization of $4.51 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a 52-week low of $133.00 and a 52-week high of $207.20. The stock has a fifty day simple moving average of $176.51 and a 200-day simple moving average of $181.50. 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 declared that its board has authorized a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently commented on the stock. DA Davidson restated a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a research note on Tuesday, November 19th. Raymond James boosted their target price 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. Wells Fargo & Company lifted their price target on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, KeyCorp cut their price objective 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. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $205.38.

Insider Buying and Selling at Dycom Industries

In other news, Director Jennifer M. Fritzsche sold 430 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total value of $74,437.30. Following the completion of the transaction, the director now directly owns 8,873 shares of the company’s stock, valued at $1,536,005.03. The trade was a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction on 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 in the company, valued at approximately $2,544,437.64. The trade was a 16.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.28% of the company’s stock.

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.