Dycom Industries, Inc. (NYSE:DY) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its position in Dycom Industries, Inc. (NYSE:DY) by 108.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 35,575 shares of the construction company’s stock after acquiring an additional 18,476 shares during the quarter. American Century Companies Inc.’s holdings in Dycom Industries were worth $6,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in DY. The Manufacturers Life Insurance Company raised its holdings in Dycom Industries by 3.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,521 shares of the construction company’s stock worth $4,045,000 after purchasing an additional 614 shares during the period. Captrust Financial Advisors raised its stake in shares of Dycom Industries by 4.6% during the 3rd quarter. Captrust Financial Advisors now owns 2,137 shares of the construction company’s stock worth $421,000 after buying an additional 94 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Dycom Industries during the 3rd quarter valued at approximately $81,000. HighTower Advisors LLC lifted its position in shares of Dycom Industries by 4.5% during the 3rd quarter. HighTower Advisors LLC now owns 1,858 shares of the construction company’s stock valued at $366,000 after buying an additional 80 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Dycom Industries by 3.7% in the 3rd quarter. Janus Henderson Group PLC now owns 41,292 shares of the construction company’s stock valued at $8,134,000 after acquiring an additional 1,483 shares during the period. 98.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DY has been the subject of a number of research analyst reports. Raymond James upped 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. Wells Fargo & Company decreased their price target on shares of Dycom Industries from $215.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday. KeyCorp lowered their price objective on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, B. Riley reduced their target price on Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $202.50.

Dycom Industries Stock Down 6.3 %

Shares of NYSE DY opened at $138.55 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average of $166.92 and a 200 day moving average of $179.16. Dycom Industries, Inc. has a 12-month low of $133.00 and a 12-month high of $207.20. The stock has a market cap of $4.02 billion, a PE ratio of 18.23, a P/E/G ratio of 1.29 and a beta of 1.34.

Dycom Industries announced that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the completion of the sale, the director now directly owns 14,533 shares in the company, valued at approximately $2,544,437.64. This trade represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.28% of the company’s stock.

Dycom Industries Company 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.