Dycom Industries (NYSE:DY) Given New $200.00 Price Target at Wells Fargo & Company

Dycom Industries (NYSE:DYFree Report) had its price objective trimmed by Wells Fargo & Company from $215.00 to $200.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

DY has been the topic of several other research reports. 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 report on Tuesday, February 4th. B. Riley dropped their price objective on Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Finally, KeyCorp decreased their target price on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $202.50.

View Our Latest Analysis on DY

Dycom Industries Stock Down 6.3 %

Dycom Industries stock opened at $138.55 on Thursday. The company’s 50-day moving average price is $166.92 and its two-hundred day moving average price is $179.09. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 1.29 and a beta of 1.36. Dycom Industries has a 52 week low of $133.00 and a 52 week high of $207.20. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89.

Dycom Industries announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’s stock in a transaction that occurred 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 $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 Securities & Exchange Commission, which can be accessed through the SEC website. 4.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dycom Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in Dycom Industries during the 1st quarter valued at $28,000. Total Wealth Planning & Management Inc. acquired a new position in Dycom Industries during the fourth quarter valued at $639,000. Public Employees Retirement System of Ohio lifted its stake in Dycom Industries by 105.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the construction company’s stock worth $194,000 after acquiring an additional 572 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Dycom Industries by 22.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,741 shares of the construction company’s stock worth $11,269,000 after acquiring an additional 11,798 shares during the period. Finally, Squarepoint Ops LLC grew its stake in Dycom Industries by 785.7% during the 4th quarter. Squarepoint Ops LLC now owns 33,685 shares of the construction company’s stock valued at $5,863,000 after acquiring an additional 29,882 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Company Profile

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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.

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