Hilton Capital Management LLC Grows Holdings in Dycom Industries, Inc. (NYSE:DY)

Hilton Capital Management LLC lifted its position in shares of Dycom Industries, Inc. (NYSE:DY) by 16.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,138 shares of the construction company’s stock after acquiring an additional 2,578 shares during the quarter. Hilton Capital Management LLC’s holdings in Dycom Industries were worth $3,157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Accent Capital Management LLC acquired a new stake in Dycom Industries in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Dycom Industries during the 3rd quarter valued at approximately $28,000. SOA Wealth Advisors LLC. purchased a new stake in Dycom Industries in the 3rd quarter worth $39,000. Westside Investment Management Inc. acquired a new position in Dycom Industries during the third quarter worth $41,000. Finally, Anchor Investment Management LLC raised its position in Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Price Performance

Dycom Industries stock opened at $147.33 on Friday. The company has a 50-day moving average price of $177.10 and a 200 day moving average price of $181.74. Dycom Industries, Inc. has a 12-month low of $133.00 and a 12-month high of $207.20. 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 stock has a market cap of $4.27 billion, a P/E ratio of 19.39, a PEG ratio of 1.29 and a beta of 1.34.

Dycom Industries declared that its board has approved 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the sale, the director now directly owns 14,533 shares in the company, valued at $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the transaction, the director now owns 8,873 shares of the company’s stock, valued at $1,536,005.03. This trade represents a 4.62 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DY has been the topic of several research analyst reports. DA Davidson reiterated a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a research report on Tuesday, November 19th. Wells Fargo & Company raised their target price on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. KeyCorp reduced their price objective on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Finally, Raymond James lifted their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $205.38.

About Dycom Industries

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.