Point72 Asia Singapore Pte. Ltd. Decreases Holdings in Dycom Industries, Inc. (NYSE:DY)

Point72 Asia Singapore Pte. Ltd. lessened its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 49.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 209 shares of the construction company’s stock after selling 204 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Dycom Industries were worth $36,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in Dycom Industries by 279.0% during the third quarter. Barclays PLC now owns 57,923 shares of the construction company’s stock valued at $11,419,000 after purchasing an additional 42,641 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in Dycom Industries during the fourth quarter valued at about $371,000. ARS Investment Partners LLC purchased a new stake in Dycom Industries during the fourth quarter valued at about $11,935,000. Transform Wealth LLC purchased a new stake in Dycom Industries during the fourth quarter valued at about $479,000. Finally, KBC Group NV lifted its holdings in Dycom Industries by 39.2% during the fourth quarter. KBC Group NV now owns 1,214 shares of the construction company’s stock valued at $211,000 after purchasing an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Stock Down 1.8%

DY stock opened at $191.26 on Tuesday. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The company’s 50 day moving average is $163.44 and its 200 day moving average is $173.75. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $207.20.

Dycom Industries declared that its board has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

DY has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. started coverage on shares of Dycom Industries in a report on Monday, April 21st. They issued an “overweight” rating and a $200.00 price target on the stock. Raymond James increased their price target on shares of 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 lowered their price target on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Finally, KeyCorp lowered their price target on shares of Dycom Industries from $201.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $201.89.

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.