Cerity Partners LLC Increases Holdings in Dycom Industries, Inc. (NYSE:DY)

Cerity Partners LLC raised its stake in Dycom Industries, Inc. (NYSE:DY) by 19.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,242 shares of the construction company’s stock after purchasing an additional 363 shares during the quarter. Cerity Partners LLC’s holdings in Dycom Industries were worth $417,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. boosted its stake in shares of Dycom Industries by 107.0% in the fourth quarter. Federated Hermes Inc. now owns 387 shares of the construction company’s stock valued at $67,000 after purchasing an additional 200 shares during the period. Russell Investments Group Ltd. boosted its position in Dycom Industries by 6.4% in the 4th quarter. Russell Investments Group Ltd. now owns 21,115 shares of the construction company’s stock valued at $3,675,000 after buying an additional 1,263 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Dycom Industries by 5.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 19,828 shares of the construction company’s stock valued at $3,451,000 after buying an additional 938 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Dycom Industries by 9.7% during the fourth quarter. Wells Fargo & Company MN now owns 141,486 shares of the construction company’s stock worth $24,627,000 after acquiring an additional 12,529 shares during the last quarter. Finally, Integrated Quantitative Investments LLC acquired a new position in shares of Dycom Industries in the fourth quarter worth about $1,186,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Trading Up 1.9 %

NYSE DY opened at $154.41 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. Dycom Industries, Inc. has a one year low of $131.37 and a one year high of $207.20. The company has a 50-day simple moving average of $156.14 and a 200-day simple moving average of $175.04. The firm has a market capitalization of $4.44 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 1.29 and a beta of 1.36.

Dycom Industries declared that its board has approved a stock buyback plan on Wednesday, February 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. KeyCorp lowered their price objective on Dycom Industries from $201.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. 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. Raymond James upped their price target on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. started coverage on shares of Dycom Industries in a report on Monday. They set an “overweight” rating and a $200.00 price objective for the company. Finally, Wells Fargo & Company cut their target price 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, April 3rd. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $200.22.

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.