Amundi Grows Stake in Dycom Industries, Inc. (NYSE:DY)

Amundi raised its stake in Dycom Industries, Inc. (NYSE:DY) by 190.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,899 shares of the construction company’s stock after acquiring an additional 9,777 shares during the quarter. Amundi owned approximately 0.05% of Dycom Industries worth $2,667,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Dycom Industries by 4.0% in the third quarter. State Street Corp now owns 1,158,585 shares of the construction company’s stock valued at $228,357,000 after acquiring an additional 44,321 shares during the last quarter. FMR LLC boosted its stake in Dycom Industries by 2.4% in the third quarter. FMR LLC now owns 772,666 shares of the construction company’s stock valued at $152,292,000 after acquiring an additional 17,862 shares during the last quarter. Hill City Capital LP boosted its stake in Dycom Industries by 2.3% in the third quarter. Hill City Capital LP now owns 679,784 shares of the construction company’s stock valued at $133,985,000 after acquiring an additional 15,000 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Dycom Industries by 4.3% in the third quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock valued at $131,278,000 after acquiring an additional 27,370 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Dycom Industries by 1.4% in the third quarter. Geode Capital Management LLC now owns 650,883 shares of the construction company’s stock valued at $128,315,000 after acquiring an additional 9,113 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Stock Up 5.5 %

Shares of NYSE:DY opened at $155.52 on Monday. The firm has a fifty day moving average price of $176.00 and a two-hundred day moving average price of $181.51. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. Dycom Industries, Inc. has a one year low of $133.00 and a one year high of $207.20. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.29 and a beta of 1.34.

Dycom Industries announced that its board has authorized a stock buyback plan on Wednesday, February 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 3.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Raymond James boosted their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 4th. KeyCorp dropped their price target on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, DA Davidson restated a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $205.38.

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 on Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the sale, the director now owns 14,533 shares in the company, valued at approximately $2,544,437.64. This trade represents a 16.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were 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 approximately $1,536,005.03. This trade represents a 4.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.28% of the company’s stock.

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.