Howe & Rusling Inc. Lowers Holdings in Dycom Industries, Inc. (NYSE:DY)

Howe & Rusling Inc. reduced its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,916 shares of the construction company’s stock after selling 179 shares during the quarter. Howe & Rusling Inc.’s holdings in Dycom Industries were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of DY. Legacy Investment Solutions LLC bought a new position in shares of Dycom Industries during the third quarter worth $28,000. SOA Wealth Advisors LLC. bought a new position in shares of Dycom Industries during the 3rd quarter valued at about $39,000. Westside Investment Management Inc. purchased a new position in shares of Dycom Industries during the third quarter valued at about $41,000. Anchor Investment Management LLC increased its holdings in shares of Dycom Industries by 37.6% in the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock worth $59,000 after buying an additional 71 shares in the last quarter. Institutional investors own 98.33% of the company’s stock.

Insider Transactions at Dycom Industries

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the 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 in the company, valued at approximately $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. KeyCorp reduced their price objective on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Raymond James boosted their price target on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, B. Riley decreased their price target on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $204.38.

Dycom Industries Stock Performance

NYSE:DY opened at $154.55 on Friday. The firm has a market capitalization of $4.48 billion, a PE ratio of 20.34, a PEG ratio of 1.29 and a beta of 1.34. The stock’s fifty day moving average is $171.84 and its 200 day moving average is $180.48. Dycom Industries, Inc. has a fifty-two week low of $133.00 and a fifty-two week high of $207.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12.

Dycom Industries declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 3.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.