Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Dycom Industries, Inc. (NYSE:DY)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Dycom Industries, Inc. (NYSE:DY) by 20.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,183 shares of the construction company’s stock after buying an additional 1,394 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Dycom Industries were worth $1,424,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in Dycom Industries by 4.0% during the 3rd quarter. State Street Corp now owns 1,158,585 shares of the construction company’s stock worth $228,357,000 after purchasing an additional 44,321 shares during the period. FMR LLC boosted its stake in Dycom Industries by 2.4% during the 3rd quarter. FMR LLC now owns 772,666 shares of the construction company’s stock worth $152,292,000 after purchasing an additional 17,862 shares during the period. Hill City Capital LP boosted its stake in Dycom Industries by 2.3% during the 3rd quarter. Hill City Capital LP now owns 679,784 shares of the construction company’s stock worth $133,985,000 after purchasing an additional 15,000 shares during the period. Principal Financial Group Inc. boosted its stake in Dycom Industries by 4.3% during the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock worth $131,278,000 after purchasing an additional 27,370 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Dycom Industries by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 650,883 shares of the construction company’s stock worth $128,315,000 after purchasing an additional 9,113 shares during the period. 98.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.28% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DY shares. DA Davidson reiterated a “buy” rating and set 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 research report on Tuesday, February 4th. Finally, KeyCorp reduced their price target on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $205.38.

Dycom Industries Stock Down 0.8 %

Dycom Industries stock opened at $156.26 on Wednesday. The stock’s 50 day moving average price is $175.08 and its 200 day moving average price is $181.28. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The company has a market cap of $4.53 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a 1-year low of $133.00 and a 1-year high of $207.20.

Dycom Industries announced that its board has approved a share buyback program on Wednesday, February 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.