Key Points
- Director David Joseph Fallon purchased 700 Dycom Industries shares at an average price of $286.92, investing approximately $200,844 and increasing his direct ownership by 204.08% to 1,043 shares.
- Dycom reported quarterly EPS of $5.29, exceeding estimates by $0.57, while revenue rose 45.6% year over year to $2.01 billion. The board also authorized a $150 million share-repurchase plan.
- Despite the stock trading down 1.6% and well below its 52-week high, analysts maintain a “Moderate Buy” consensus, with 11 Buy ratings, one Hold rating, and an average price target of $514.
Dycom Industries, Inc. (NYSE:DY - Get Free Report) Director David Joseph Fallon purchased 700 shares of Dycom Industries stock in a transaction that occurred on Tuesday, September 1st. The stock was purchased at an average price of $286.92 per share, with a total value of $200,844.00. Following the completion of the purchase, the director directly owned 1,043 shares in the company, valued at $299,257.56. This trade represents a 204.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Dycom Industries Trading Down 1.6%
DY stock opened at $286.54 on Wednesday. The company's 50-day simple moving average is $410.80 and its 200 day simple moving average is $411.86. Dycom Industries, Inc. has a 52 week low of $242.55 and a 52 week high of $566.47. The company has a market capitalization of $8.64 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 0.51 and a beta of 1.49. 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 (NYSE:DY - Get Free Report) last announced its earnings results on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, topping the consensus estimate of $4.72 by $0.57. The company had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The business's revenue for the quarter was up 45.6% on a year-over-year basis. During the same period last year, the firm earned $3.33 earnings per share. 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 15.63 earnings per share for the current year.
Dycom Industries declared that its board has approved a share buyback plan on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. UBS Group reduced their target price on Dycom Industries from $611.00 to $525.00 and set a "buy" rating on the stock in a report on Thursday, August 27th. Wedbush set a $654.00 price target on Dycom Industries in a report on Friday, May 29th. Weiss Ratings downgraded Dycom Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday. Wall Street Zen lowered shares of Dycom Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. Finally, B. Riley Financial raised their target price on Dycom Industries from $485.00 to $625.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $514.00.
Get Our Latest Stock Report on DY
Hedge Funds Weigh In On Dycom Industries
A number of institutional investors and hedge funds have recently made changes to their positions in DY. Corient Private Wealth LP boosted its holdings in Dycom Industries by 107.4% in the second quarter. Corient Private Wealth LP now owns 16,864 shares of the construction company's stock worth $8,526,000 after acquiring an additional 8,731 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Dycom Industries during the second quarter valued at about $2,755,000. California State Teachers Retirement System grew its holdings in shares of Dycom Industries by 51,902.4% in the second quarter. California State Teachers Retirement System now owns 17,614,250 shares of the construction company's stock valued at $8,905,589,000 after acquiring an additional 17,580,378 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in Dycom Industries in the second quarter valued at about $383,000. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Dycom Industries by 4.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 20,549 shares of the construction company's stock valued at $9,674,000 after buying an additional 880 shares during the last quarter. Institutional investors own 98.33% of the company's stock.
Dycom Industries Company Profile
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Get Free Report)
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.
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