Thrivent Financial for Lutherans Lowers Holdings in Dycom Industries, Inc. (NYSE:DY)

Thrivent Financial for Lutherans reduced its position in shares of Dycom Industries, Inc. (NYSE:DY) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,496 shares of the construction company’s stock after selling 350 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of Dycom Industries worth $3,916,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Dycom Industries in the third quarter worth approximately $269,000. Intech Investment Management LLC bought a new position in shares of Dycom Industries in the 3rd quarter worth $1,516,000. Citigroup Inc. raised its position in shares of Dycom Industries by 79.6% during the 3rd quarter. Citigroup Inc. now owns 38,289 shares of the construction company’s stock valued at $7,547,000 after buying an additional 16,966 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Dycom Industries by 3.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,521 shares of the construction company’s stock worth $4,045,000 after acquiring an additional 614 shares during the last quarter. Finally, FMR LLC grew its position in Dycom Industries by 2.4% in the third quarter. FMR LLC now owns 772,666 shares of the construction company’s stock worth $152,292,000 after acquiring an additional 17,862 shares in the last quarter. Institutional investors own 98.33% of the company’s stock.

Insider Activity at Dycom Industries

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction on Friday, January 10th. The shares were 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. The trade was a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on DY shares. B. Riley dropped their price target on Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, March 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 shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $204.38.

Dycom Industries Stock Performance

Shares of DY stock opened at $161.57 on Wednesday. The company has a market capitalization of $4.68 billion, a P/E ratio of 21.26, a PEG ratio of 1.29 and a beta of 1.34. 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. The stock has a 50 day moving average price of $173.21 and a two-hundred day moving average price of $180.82.

Dycom Industries announced that its Board of Directors has authorized a share repurchase 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 reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management 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.