Legato Capital Management LLC Increases Position in Dycom Industries, Inc. (NYSE:DY)

Legato Capital Management LLC lifted its stake in Dycom Industries, Inc. (NYSE:DY) by 39.9% in the 4th quarter, Holdings Channel reports. The firm owned 4,070 shares of the construction company’s stock after purchasing an additional 1,160 shares during the quarter. Legato Capital Management LLC’s holdings in Dycom Industries were worth $708,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DY. Stifel Financial Corp grew its holdings in Dycom Industries by 46.5% in the third quarter. Stifel Financial Corp now owns 20,232 shares of the construction company’s stock valued at $3,988,000 after purchasing an additional 6,418 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Dycom Industries in the 4th quarter worth about $1,171,000. JPMorgan Chase & Co. grew its stake in Dycom Industries by 65.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock valued at $15,831,000 after acquiring an additional 31,864 shares during the last quarter. Whalen Wealth Management Inc. purchased a new position in Dycom Industries during the 3rd quarter valued at about $773,000. Finally, Advisors Asset Management Inc. increased its holdings in Dycom Industries by 19.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 37,911 shares of the construction company’s stock valued at $7,472,000 after acquiring an additional 6,128 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Insider Transactions at Dycom Industries

In other news, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total transaction of $74,437.30. Following the sale, the director now owns 8,873 shares in the company, valued at $1,536,005.03. This trade represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction 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 owns 14,533 shares in the company, valued at $2,544,437.64. This trade represents 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.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DY shares. KeyCorp upped their price target on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Wells Fargo & Company upped their target price on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Raymond James increased their target price on Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 4th. Finally, DA Davidson reiterated a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Dycom Industries has a consensus rating of “Buy” and an average price target of $208.88.

Dycom Industries Price Performance

Shares of NYSE:DY opened at $185.44 on Friday. Dycom Industries, Inc. has a one year low of $112.50 and a one year high of $207.20. The business’s fifty day moving average price is $183.32 and its two-hundred day moving average price is $184.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The stock has a market cap of $5.41 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 1.51 and a beta of 1.42.

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.