Dycom Industries, Inc. (NYSE:DY) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 37.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,805 shares of the construction company’s stock after selling 5,954 shares during the period. BNP Paribas Financial Markets’ holdings in Dycom Industries were worth $1,707,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Corient Private Wealth LLC grew its position 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 purchasing an additional 55 shares during the period. Wilmington Savings Fund Society FSB grew its position in Dycom Industries by 11.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock worth $98,000 after purchasing an additional 56 shares during the period. Arizona State Retirement System grew its position in shares of Dycom Industries by 0.8% during the 4th quarter. Arizona State Retirement System now owns 8,447 shares of the construction company’s stock valued at $1,470,000 after acquiring an additional 70 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Dycom Industries by 26.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock valued at $59,000 after acquiring an additional 71 shares during the period. Finally, Ironwood Investment Management LLC grew its position in shares of Dycom Industries by 0.6% during the 4th quarter. Ironwood Investment Management LLC now owns 14,795 shares of the construction company’s stock valued at $2,575,000 after acquiring an additional 89 shares during the period. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Trading Up 1.3%

DY stock opened at $194.54 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. Dycom Industries, Inc. has a 12-month low of $131.37 and a 12-month high of $207.20. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.29 and a beta of 1.27. The business’s 50-day moving average is $162.61 and its 200 day moving average is $173.64.

Dycom Industries announced that its board has initiated a stock buyback program on Wednesday, February 26th that permits the company to repurchase $150.00 million in outstanding 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 often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DY shares. B. Riley dropped their target price on Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. JPMorgan Chase & Co. started coverage on Dycom Industries in a research report on Monday, April 21st. They set an “overweight” rating and a $200.00 target price on the stock. Wells Fargo & Company dropped their target price on Dycom Industries from $215.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. Raymond James raised their target price on Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, KeyCorp dropped their target price on Dycom Industries from $201.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $200.22.

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.