Inspire Advisors LLC Has $1.21 Million Stock Position in Dycom Industries, Inc. (NYSE:DY)

Inspire Advisors LLC boosted its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,940 shares of the construction company’s stock after acquiring an additional 184 shares during the quarter. Inspire Advisors LLC’s holdings in Dycom Industries were worth $1,208,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB grew its stake in shares of Dycom Industries by 11.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock valued at $98,000 after buying an additional 56 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Dycom Industries by 25.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock valued at $57,000 after buying an additional 59 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Dycom Industries by 0.8% in the 4th quarter. Arizona State Retirement System now owns 8,447 shares of the construction company’s stock valued at $1,470,000 after buying an additional 70 shares in the last quarter. Anchor Investment Management LLC grew its stake in shares of 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 in the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Dycom Industries by 4.5% in the 3rd quarter. HighTower Advisors LLC now owns 1,858 shares of the construction company’s stock valued at $366,000 after buying an additional 80 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Stock Down 3.1 %

Shares of DY stock opened at $136.53 on Tuesday. Dycom Industries, Inc. has a 12 month low of $133.00 and a 12 month high of $207.20. The firm has a market cap of $3.96 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. The stock has a 50 day moving average of $178.95 and a 200-day moving average of $182.50. 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 of Directors has approved 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 purchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DY shares. KeyCorp lowered their price target on 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 price target 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 report on Tuesday, February 4th. Finally, Wells Fargo & Company boosted their target price on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $205.38.

Insider Transactions at Dycom Industries

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’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 transaction of $507,732.00. Following the completion of the transaction, the director now directly owns 14,533 shares in the company, valued at $2,544,437.64. The trade was a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer M. Fritzsche sold 430 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were 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 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 disclosure for this sale can be found here. Corporate 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.