Two Sigma Securities LLC Purchases Shares of 2,882 Dycom Industries, Inc. $DY

Two Sigma Securities LLC purchased a new position in shares of Dycom Industries, Inc. (NYSE:DY) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,882 shares of the construction company’s stock, valued at approximately $1,457,000.

A number of other large investors also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its position in shares of Dycom Industries by 265,593,055.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock valued at $8,076,953,000 after acquiring an additional 23,903,375 shares during the last quarter. Peconic Partners LLC boosted its position in Dycom Industries by 2.8% during the second quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company’s stock valued at $933,038,000 after purchasing an additional 105,586 shares during the last quarter. BlackRock Inc. bought a new position in Dycom Industries in the second quarter valued at approximately $1,513,523,000. Hill City Capital LP bought a new position in Dycom Industries in the second quarter valued at approximately $510,536,693. Finally, First Trust Advisors LP increased its position in shares of Dycom Industries by 27.8% during the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock worth $270,615,000 after purchasing an additional 173,528 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Guggenheim upped their price objective on Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Wall Street Zen downgraded shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Cantor Fitzgerald dropped their price target on shares of Dycom Industries from $654.00 to $476.00 and set an “overweight” rating on the stock in a research report on Thursday, August 27th. Wells Fargo & Company set a $476.00 price target on shares of Dycom Industries in a research note on Thursday. Finally, Zacks Research downgraded shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $514.00.

Dycom Industries Stock Performance

Shares of NYSE DY opened at $290.21 on Tuesday. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. Dycom Industries, Inc. has a 12 month low of $242.55 and a 12 month high of $566.47. The stock has a 50 day moving average of $414.44 and a 200-day moving average of $412.87. The company has a market capitalization of $8.75 billion, a P/E ratio of 26.41, a P/E/G ratio of 0.52 and a beta of 1.54.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share for the quarter, beating analysts’ consensus estimates of $4.72 by $0.57. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the business earned $3.33 EPS. The firm’s revenue for the quarter was up 45.6% on a year-over-year basis. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, equities research analysts predict 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 reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Dycom Industries Profile

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.