KLP Kapitalforvaltning AS Makes New $1.08 Million Investment in Dycom Industries, Inc. (NYSE:DY)

KLP Kapitalforvaltning AS purchased a new stake in shares of Dycom Industries, Inc. (NYSE:DY) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,200 shares of the construction company’s stock, valued at approximately $1,079,000.

A number of other large investors have also recently modified their holdings of DY. Corient Private Wealth LLC grew its holdings in Dycom Industries by 0.8% during the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company’s stock worth $1,221,000 after acquiring an additional 55 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of Dycom Industries by 11.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock valued at $98,000 after purchasing an additional 56 shares in the last quarter. Arizona State Retirement System increased its holdings in Dycom Industries by 0.8% during the fourth 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 during the period. EverSource Wealth Advisors LLC raised its stake in Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock worth $59,000 after buying an additional 71 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its holdings in Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Stock Performance

Shares of Dycom Industries stock opened at $153.72 on Monday. The firm has a market capitalization of $4.45 billion, a P/E ratio of 20.23, a PEG ratio of 1.29 and a beta of 1.34. Dycom Industries, Inc. has a 52 week low of $133.00 and a 52 week high of $207.20. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average price of $171.10 and a 200 day moving average price of $180.29.

Dycom Industries declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Dycom Industries

In related news, 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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.28% of the company’s stock.

Analysts Set New Price Targets

DY has been the subject of several recent research reports. KeyCorp reduced their price target on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. B. Riley decreased their price target on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, Raymond James lifted their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $204.38.

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.