Dycom Industries (NYSE:DY) Director Buys 700 Shares of Stock

Dycom Industries, Inc. (NYSE:DY) Director David Joseph Fallon acquired 700 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was bought at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the completion of the transaction, the director owned 1,043 shares of the company’s stock, valued at $299,257.56. The trade was a 204.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Dycom Industries Price Performance

DY traded down $4.67 on Tuesday, reaching $286.54. The company had a trading volume of 605,341 shares, compared to its average volume of 495,495. The business has a 50 day simple moving average of $414.44 and a 200 day simple moving average of $412.87. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 0.52 and a beta of 1.54. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.35. Dycom Industries, Inc. has a 52-week low of $242.55 and a 52-week high of $566.47.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, topping analysts’ consensus estimates of $4.72 by $0.57. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the company earned $3.33 EPS. The business’s quarterly revenue was up 45.6% compared to the same quarter last year. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, sell-side analysts anticipate that Dycom Industries, Inc. will post 15.44 EPS for the current year.

Dycom Industries announced that its board has initiated a share repurchase program on Wednesday, August 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently commented on DY. Cantor Fitzgerald reduced their target price on Dycom Industries from $654.00 to $476.00 and set an “overweight” rating on the stock in a research note on Thursday, August 27th. B. Riley Financial lifted their price target on Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Guggenheim upped their price objective on Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. UBS Group reduced their price objective on Dycom Industries from $611.00 to $525.00 and set a “buy” rating on the stock in a research report on Thursday, August 27th. Finally, KeyCorp decreased their price objective on Dycom Industries from $610.00 to $423.00 and set an “overweight” rating on the stock in a report on Thursday, August 27th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Dycom Industries currently has a consensus rating of “Moderate Buy” and an average price target of $514.00.

Hedge Funds Weigh In On Dycom Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Kemnay Advisory Services Inc. purchased a new stake in Dycom Industries during the fourth quarter valued at about $30,000. Allworth Financial LP purchased a new position in shares of Dycom Industries in the second quarter worth about $35,000. Acumen Wealth Advisors LLC bought a new stake in shares of Dycom Industries in the 4th quarter valued at about $35,000. Legacy Wealth Managment LLC ID bought a new stake in shares of Dycom Industries in the 4th quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Dycom Industries by 73.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after acquiring an additional 68 shares during the period. Institutional investors own 98.33% of the company’s stock.

About Dycom Industries

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.