Essex LLC Acquires 9,677 Shares of Dycom Industries, Inc. $DY

Essex LLC bought a new stake in shares of Dycom Industries, Inc. (NYSE:DY) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,677 shares of the construction company’s stock, valued at approximately $2,604,000.

A number of other hedge funds also recently bought and sold shares of DY. BlackRock Inc. acquired a new stake in Dycom Industries during the 2nd quarter valued at $1,513,523,000. Hill City Capital LP acquired a new position in Dycom Industries in the 2nd quarter valued at approximately $510,536,693. First Trust Advisors LP increased its stake in Dycom Industries by 27.8% in the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock valued at $270,615,000 after buying an additional 173,528 shares during the period. Bank of America Corp DE acquired a new stake in shares of Dycom Industries during the 2nd quarter valued at $270,174,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Dycom Industries by 19.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 396,240 shares of the construction company’s stock worth $134,254,000 after acquiring an additional 65,724 shares during the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Dycom Industries

In other Dycom Industries news, Director Carmen M. Sabater bought 350 shares of the stock in a transaction dated Wednesday, September 23rd. The stock was bought at an average cost of $280.62 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Fallon acquired 700 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were bought at an average cost of $286.92 per share, for a total transaction of $200,844.00. Following the acquisition, the director owned 1,043 shares in the company, valued at approximately $299,257.56. The trade was a 204.08% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.22% of the stock is owned by insiders.

Analyst Ratings Changes

DY has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on Dycom Industries from $650.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, August 27th. Raymond James Financial set a $375.00 target price on Dycom Industries in a report on Thursday, September 3rd. UBS Group reiterated a “buy” rating on shares of Dycom Industries in a research note on Thursday, September 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $476.00 price target on shares of Dycom Industries in a research report on Friday, October 9th. Finally, Weiss Ratings lowered shares of Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $502.92.

Dycom Industries Stock Performance

Shares of DY stock traded down $9.75 during mid-day trading on Wednesday, reaching $259.89. The stock had a trading volume of 632,544 shares, compared to its average volume of 515,001. Dycom Industries, Inc. has a one year low of $258.00 and a one year high of $566.47. The firm has a market cap of $7.84 billion, a PE ratio of 23.65, a P/E/G ratio of 0.45 and a beta of 1.50. The firm’s 50 day simple moving average is $320.71 and its 200 day simple moving average is $389.91. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 1.35.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, beating analysts’ consensus estimates of $4.72 by $0.57. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the company posted $3.33 earnings per share. Dycom Industries’s revenue was up 45.6% on a year-over-year basis. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, analysts forecast that Dycom Industries, Inc. will post 16.06 EPS for the current year.

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

Dycom Industries Profile

Dycom Industries, Inc is a provider of specialty contracting services for the telecommunications and utility industries. Through its operating subsidiaries, the company designs, builds, installs, maintains and repairs infrastructure used by telecommunications providers, utilities and government agencies.

Its services include engineering and project management, aerial and underground construction, fiber-optic and broadband network deployment, wireless infrastructure installation, network maintenance, fulfillment services and emergency restoration.