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

by · The Markets Daily

Dycom Industries, Inc. (NYSE:DY – Get Free Report) Director Carmen Sabater bought 350 shares of Dycom Industries stock in a transaction dated Wednesday, September 23rd. The shares were bought at an average cost of $280.62 per share, with a total value of $98,217.00. Following the completion of the transaction, the director directly owned 7,154 shares in the company, valued at approximately $2,007,555.48. This trade represents a 5.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Dycom Industries Stock Performance

Shares of DY stock traded down $8.30 during trading hours on Thursday, hitting $272.64. 544,801 shares of the company were exchanged, compared to its average volume of 510,310. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 0.48 and a beta of 1.49. The firm has a fifty day simple moving average of $360.24 and a 200 day simple moving average of $397.95. Dycom Industries, Inc. has a 52-week low of $266.84 and a 52-week high of $566.47.

Dycom Industries (NYSE:DY – Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 EPS 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 business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the business earned $3.33 earnings per share. Dycom Industries’s revenue for the quarter was up 45.6% on a year-over-year basis. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Research analysts predict that Dycom Industries, Inc. will post 15.94 earnings per share for the current fiscal year.

Dycom Industries declared that its board has authorized a stock repurchase program on Wednesday, August 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Dycom Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in DY. BlackRock Inc. bought a new position in Dycom Industries in the 2nd quarter worth about $1,513,523,000. Hill City Capital LP bought a new stake in shares of Dycom Industries during the second quarter valued at about $510,536,693. First Trust Advisors LP lifted its holdings in shares of Dycom Industries by 27.8% in the first quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock worth $270,615,000 after buying an additional 173,528 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Dycom Industries in the second quarter worth about $270,174,000. Finally, Geode Capital Management LLC boosted its position 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 valued at $245,771,000 after acquiring an additional 53,993 shares during the period. 98.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DY. KeyCorp boosted their price objective on Dycom Industries from $423.00 to $429.00 and gave the company an “overweight” rating in a research note on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $476.00 target price on shares of Dycom Industries in a research note on Thursday. Wells Fargo & Company set a $476.00 price target on shares of Dycom Industries in a research report on Thursday, August 27th. UBS Group restated a “buy” rating on shares of Dycom Industries in a research note on Thursday, September 17th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $620.00 price objective on shares of Dycom Industries in a report on Thursday, September 17th. Ten equities research 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 stock has an average rating of “Moderate Buy” and an average price target of $502.92.

Read Our Latest Research Report on DY

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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