Northern Trust Corp Purchases 25,571 Shares of Dycom Industries, Inc. (NYSE:DY)

Northern Trust Corp boosted its position in shares of Dycom Industries, Inc. (NYSE:DY) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,481 shares of the construction company’s stock after acquiring an additional 25,571 shares during the period. Northern Trust Corp owned 1.10% of Dycom Industries worth $55,783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in Dycom Industries during the 4th quarter valued at approximately $55,802,000. First Trust Advisors LP boosted its position in shares of Dycom Industries by 142.9% in the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company’s stock valued at $86,405,000 after acquiring an additional 292,050 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of Dycom Industries in the fourth quarter worth $50,234,000. JPMorgan Chase & Co. increased its position in Dycom Industries by 119.8% during the fourth quarter. JPMorgan Chase & Co. now owns 176,572 shares of the construction company’s stock worth $30,734,000 after acquiring an additional 96,252 shares during the period. Finally, Reaves W H & Co. Inc. raised its stake in Dycom Industries by 232.1% during the 4th quarter. Reaves W H & Co. Inc. now owns 117,429 shares of the construction company’s stock valued at $20,440,000 after purchasing an additional 82,071 shares during the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of Dycom Industries in a research report on Monday, April 21st. They issued an “overweight” rating and a $200.00 price target on the stock. B. Riley lowered their price target 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. Wells Fargo & Company reduced their price objective on Dycom Industries from $215.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Raymond James boosted their price objective 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 reduced their target price on Dycom Industries from $201.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $200.22.

Dycom Industries Stock Down 0.5 %

Shares of NYSE:DY opened at $183.06 on Thursday. The company has a market capitalization of $5.27 billion, a PE ratio of 24.09, a P/E/G ratio of 1.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The company’s fifty day moving average is $156.43 and its 200-day moving average is $173.68. Dycom Industries, Inc. has a 52 week low of $131.37 and a 52 week high of $207.20.

Dycom Industries declared that its board has approved a share repurchase program on Wednesday, February 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are 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.