AlTi Global Inc. Sells 237 Shares of Dycom Industries, Inc. (NYSE:DY)

AlTi Global Inc. lowered its position in shares of Dycom Industries, Inc. (NYSE:DY) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,852 shares of the construction company’s stock after selling 237 shares during the quarter. AlTi Global Inc.’s holdings in Dycom Industries were worth $1,889,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Anchor Investment Management LLC lifted its stake in Dycom Industries by 37.6% in the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock valued at $53,000 after buying an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Dycom Industries by 26.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock worth $59,000 after purchasing an additional 71 shares in the last quarter. GeoWealth Management LLC raised its stake in shares of Dycom Industries by 35.9% in the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company’s stock valued at $61,000 after purchasing an additional 92 shares during the period. Federated Hermes Inc. lifted its holdings 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 in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Dycom Industries by 209.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company’s stock worth $68,000 after buying an additional 264 shares during the period. Institutional investors own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Dycom Industries Stock Performance

DY opened at $180.53 on Friday. The company has a quick ratio of 2.93, a current ratio of 3.12 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 business has a 50 day moving average of $155.18 and a 200-day moving average of $173.81. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.29 and a beta of 1.36.

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

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.