Key Points
- Director Carmen Sabater bought 350 Dycom shares at an average price of $280.62, investing $98,217 and increasing her ownership by 5.14% to 7,154 shares.
- Dycom shares opened at $272.64, down 3.0%, and remain well below their 52-week high of $566.47. The company has a market capitalization of $8.22 billion.
- Dycom recently exceeded quarterly earnings and revenue estimates, while its board authorized a $150 million share buyback. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $502.92.
Dycom Industries, Inc. (NYSE:DY - Get Free Report) Director Carmen Sabater purchased 350 shares of the company's stock in a transaction dated Wednesday, September 23rd. The shares were acquired at an average price of $280.62 per share, for a total transaction of $98,217.00. Following the purchase, the director owned 7,154 shares in the company, valued at $2,007,555.48. The trade was a 5.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Dycom Industries Stock Down 3.0%
DY stock opened at $272.64 on Friday. The firm has a market cap of $8.22 billion, a PE ratio of 24.81, a PEG ratio of 0.48 and a beta of 1.49. Dycom Industries, Inc. has a 1 year low of $266.84 and a 1 year high of $566.47. The company has a fifty day simple moving average of $357.42 and a 200 day simple moving average of $397.35. 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 (NYSE:DY - Get Free Report) last posted its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share for the quarter, beating the consensus estimate of $4.72 by $0.57. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company earned $3.33 earnings per share. The business's 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. Sell-side analysts anticipate that Dycom Industries, Inc. will post 15.94 EPS for the current fiscal year.
Dycom Industries declared that its Board of Directors has approved a share buyback plan on Wednesday, August 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 1.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.
Institutional Trading of Dycom Industries
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of Dycom Industries by 50.1% during the first quarter. Royal Bank of Canada now owns 22,327 shares of the construction company's stock worth $7,566,000 after buying an additional 7,452 shares during the last quarter. Norges Bank bought a new stake in shares of Dycom Industries in the fourth quarter valued at approximately $19,335,000. Hillsdale Investment Management Inc. grew its stake in shares of Dycom Industries by 82,666.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 24,830 shares of the construction company's stock worth $8,390,000 after acquiring an additional 24,800 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Dycom Industries by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company's stock worth $245,771,000 after acquiring an additional 53,993 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Dycom Industries by 6.1% during the first quarter. Bank of America Corp DE now owns 445,830 shares of the construction company's stock worth $151,056,000 after acquiring an additional 25,564 shares during the period. Institutional investors and hedge funds own 98.33% of the company's stock.
Wall Street Analysts Forecast Growth
DY has been the subject of a number of recent analyst reports. Raymond James Financial set a $375.00 target price on Dycom Industries in a research report on Thursday, September 3rd. Guggenheim reissued a "buy" rating and issued a $620.00 price target on shares of Dycom Industries in a research report on Thursday, September 17th. Zacks Research cut shares of Dycom Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. KeyCorp upped their price objective on shares of Dycom Industries from $423.00 to $429.00 and gave the stock an "overweight" rating in a report on Monday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Dycom Industries from $650.00 to $570.00 and set an "overweight" rating on the stock in a research note on Thursday, August 27th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Dycom Industries has a consensus rating of "Moderate Buy" and an average target price of $502.92.
Read Our Latest Stock Analysis on Dycom Industries
About Dycom Industries
(
Get Free Report)
Dycom Industries, Inc is a specialty contractor that provides infrastructure construction and maintenance services for the telecommunications and utility industries. The company supports the expansion, upgrade and upkeep of communications networks, including fiber-optic, broadband, wireless and other voice and data systems.
Its services include engineering and design, aerial and underground construction, fiber and cable installation, wireless infrastructure deployment, network maintenance, utility locating, vegetation management and emergency restoration.
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