Equitable Holdings Inc. Acquires New Position in Dycom Industries, Inc. $DY

Equitable Holdings Inc. bought a new position in shares of Dycom Industries, Inc. (NYSE:DY) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,427 shares of the construction company’s stock, valued at approximately $5,777,000.

Several other large investors have also recently modified their holdings of DY. Northwestern Mutual Wealth Management Co. boosted its holdings in Dycom Industries by 265,593,055.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock worth $8,076,953,000 after buying an additional 23,903,375 shares during the period. BlackRock Inc. purchased a new stake in shares of Dycom Industries during the second quarter worth $1,513,523,000. Hill City Capital LP bought a new stake in shares of Dycom Industries during the 2nd quarter valued at $510,536,693,000. Bank of America Corp DE purchased a new stake in Dycom Industries during the 2nd quarter worth about $270,174,000. Finally, Bank of New York Mellon Corp bought a new position in Dycom Industries in the 2nd quarter worth about $90,216,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Stock Performance

Shares of Dycom Industries stock opened at $308.19 on Friday. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 0.55 and a beta of 1.54. The firm’s 50-day moving average is $421.24 and its 200 day moving average is $414.57. Dycom Industries, Inc. has a 1 year low of $242.55 and a 1 year high of $566.47. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.35 and a quick ratio of 2.46.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.98 billion. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.Dycom Industries’s revenue was up 45.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Sell-side analysts anticipate that Dycom Industries, Inc. will post 15.45 EPS for the current fiscal year.

Dycom Industries declared that its board has approved a stock repurchase program on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

DY has been the topic of several research analyst reports. Wall Street Zen cut shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Zacks Research cut shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Cantor Fitzgerald decreased their target price 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. Wedbush set a $654.00 price target on Dycom Industries in a research report on Friday, May 29th. Finally, KeyCorp decreased their price target on Dycom Industries from $610.00 to $423.00 and set an “overweight” rating on the stock in a research note on Thursday. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $514.00.

Key Dycom Industries News

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Dycom reported record fiscal 2027 second-quarter results: adjusted EPS was $5.29 versus the $4.72 consensus, revenue rose 45.6% year over year to $2.01 billion, and adjusted EBITDA reached $315.5 million. The company also reported a record $12.24 billion backlog. Dycom fiscal 2027 second-quarter results
• Positive Sentiment: Management raised its fiscal 2027 revenue outlook to approximately $7.5 billion-$7.7 billion, supported by strong fiber, data-center and Building Systems demand. The company said a $150 million wireless project deferral is shifting into fiscal 2028 rather than being canceled. Dycom earnings call and fiber demand
• Positive Sentiment: The board authorized a new $150 million share-repurchase program, allowing Dycom to buy up to roughly 1.4% of its outstanding shares. The authorization may support per-share results and signals management believes the stock is undervalued. Dycom share-repurchase announcement
• Neutral Sentiment: JPMorgan, UBS, Wells Fargo, KeyCorp and Cantor Fitzgerald all lowered their Dycom price targets following the earnings report, but each retained a positive rating ranging from “buy” to “overweight.” The revised targets still imply substantial upside, although the reductions suggest analysts are recalibrating valuation and near-term expectations. Analysts cut Dycom forecasts
• Negative Sentiment: Fiscal third-quarter adjusted EPS guidance of $4.33-$4.79 is below the $4.68 consensus midpoint and was the primary reason the strong Q2 beat failed to reassure investors. Revenue guidance of $1.9 billion-$2.0 billion was broadly in line with expectations, but the wireless-work deferral is pressuring the near-term earnings outlook. Why Dycom stock declined after earnings

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.