Dycom Industries (NYSE:DY) Director David Joseph Fallon Purchases 700 Shares of Stock

Dycom Industries, Inc. (NYSE:DY) Director David Joseph Fallon acquired 700 shares of the stock in a transaction dated Tuesday, September 1st. The shares were purchased 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. This trade represents a 204.08% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Dycom Industries Stock Down 1.6%

Shares of DY stock opened at $286.54 on Wednesday. The stock has a fifty day moving average price of $410.80 and a 200 day moving average price of $411.86. The stock has a market cap of $8.64 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 0.51 and a beta of 1.49. Dycom Industries, Inc. has a one year low of $242.55 and a one 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 2.24.

Dycom Industries (NYSE:DY) last issued 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. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The firm’s revenue was up 45.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Analysts predict that Dycom Industries, Inc. will post 15.63 earnings per share for the current year.

Dycom Industries announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DY. Wedbush set a $654.00 target price on Dycom Industries in a report on Friday, May 29th. B. Riley Financial lifted their price target on shares of Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Cantor Fitzgerald decreased their price objective on Dycom Industries from $654.00 to $476.00 and set an “overweight” rating for the company in a research note on Thursday, August 27th. Weiss Ratings downgraded Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Finally, UBS Group cut their target price on Dycom Industries from $611.00 to $525.00 and set a “buy” rating on the stock in a research note on Thursday, August 27th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dycom Industries currently has an average rating of “Moderate Buy” and an average target price of $514.00.

Hedge Funds Weigh In On Dycom Industries

A number of large investors have recently added to or reduced their stakes in DY. Corient Private Wealth LP increased its stake in Dycom Industries by 107.4% in the 2nd quarter. Corient Private Wealth LP now owns 16,864 shares of the construction company’s stock valued at $8,526,000 after buying an additional 8,731 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Dycom Industries during the second quarter worth about $2,755,000. California State Teachers Retirement System grew its holdings in Dycom Industries by 51,902.4% during the second quarter. California State Teachers Retirement System now owns 17,614,250 shares of the construction company’s stock worth $8,905,589,000 after purchasing an additional 17,580,378 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new position in Dycom Industries during the second quarter worth approximately $383,000. Finally, TD Waterhouse Canada Inc. raised its stake in Dycom Industries by 4.5% in the second 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 period. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Company 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.