Dycom Industries (NYSE:DY) Director Carmen Sabater Purchases 350 Shares of Company Stock

Dycom Industries, Inc. (NYSE:DY) Director Carmen Sabater purchased 350 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The shares were purchased at an average cost of $280.62 per share, with a total value of $98,217.00. Following the completion of the purchase, the director owned 7,154 shares in the company, valued at $2,007,555.48. This represents a 5.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dycom Industries Stock Down 3.0%

Shares of DY stock opened at $272.64 on Friday. Dycom Industries, Inc. has a 1 year low of $266.84 and a 1 year high of $566.47. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.35. The business’s fifty day moving average is $357.42 and its 200-day moving average is $397.35. The stock has a market cap of $8.22 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 0.48 and a beta of 1.49.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data 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 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%.The company’s revenue was up 45.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Equities analysts expect that Dycom Industries, Inc. will post 15.94 earnings per share for the current fiscal year.

Dycom Industries declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently weighed in on DY. Wells Fargo & Company set a $476.00 target price on shares of Dycom Industries in a report on Thursday, August 27th. Wall Street Zen lowered Dycom Industries from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. Guggenheim reiterated a “buy” rating and issued a $620.00 price target on shares of Dycom Industries in a research report on Thursday, September 17th. Cantor Fitzgerald restated an “overweight” rating and set a $476.00 price objective on shares of Dycom Industries in a report on Thursday. Finally, Zacks Research lowered shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $502.92.

Hedge Funds Weigh In On Dycom Industries

Large investors have recently made changes to their positions in the business. Royal Bank of Canada grew its stake in Dycom Industries by 50.1% in the first quarter. Royal Bank of Canada now owns 22,327 shares of the construction company’s stock valued at $7,566,000 after purchasing an additional 7,452 shares in the last quarter. Norges Bank purchased a new stake in shares of Dycom Industries during the 4th quarter worth about $19,335,000. Hillsdale Investment Management Inc. raised its stake in shares of Dycom Industries by 82,666.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 24,830 shares of the construction company’s stock worth $8,390,000 after purchasing an additional 24,800 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Dycom Industries by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company’s stock valued at $245,771,000 after buying an additional 53,993 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Dycom Industries by 6.1% during the 1st quarter. Bank of America Corp DE now owns 445,830 shares of the construction company’s stock valued at $151,056,000 after buying an additional 25,564 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

About Dycom Industries

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.