Dycom Industries, Inc. (NYSE:DY) is Neumeier Poma Investment Counsel LLC’s 3rd Largest Position

Neumeier Poma Investment Counsel LLC reduced its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 12.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 247,959 shares of the construction company’s stock after selling 33,666 shares during the period. Dycom Industries comprises 4.2% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its 3rd biggest position. Neumeier Poma Investment Counsel LLC owned approximately 0.85% of Dycom Industries worth $43,160,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Corient Private Wealth LLC raised its stake in Dycom Industries by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company’s stock valued at $1,221,000 after acquiring an additional 55 shares during the period. Wilmington Savings Fund Society FSB increased its stake in shares of Dycom Industries by 11.1% in the fourth 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 in the last quarter. Arizona State Retirement System raised its position in shares of Dycom Industries by 0.8% in the fourth quarter. Arizona State Retirement System now owns 8,447 shares of the construction company’s stock valued at $1,470,000 after purchasing an additional 70 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock valued at $59,000 after purchasing an additional 71 shares during the period. Finally, Anchor Investment Management LLC lifted its stake in shares of Dycom Industries by 37.6% during the 3rd 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. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Price Performance

Dycom Industries stock opened at $157.95 on Thursday. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.29 and a beta of 1.34. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The business has a 50-day simple moving average of $172.54 and a 200 day simple moving average of $180.66. Dycom Industries, Inc. has a 52 week low of $133.00 and a 52 week high of $207.20.

Dycom Industries announced that its board has authorized a share buyback plan on Wednesday, February 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Dycom Industries

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction on Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the completion of the sale, the director now directly owns 14,533 shares of the company’s stock, valued at approximately $2,544,437.64. The trade was a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DY. Raymond James boosted their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 4th. B. Riley decreased their price objective 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. Finally, KeyCorp dropped their price objective on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $204.38.

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.