Freestone Grove Partners LP bought a new position in Dycom Industries, Inc. (NYSE:DY – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 64,662 shares of the construction company’s stock, valued at approximately $32,692,000. Freestone Grove Partners LP owned about 0.22% of Dycom Industries as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in Dycom Industries by 4,626.1% during the 1st quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock valued at $331,000 after purchasing an additional 2,128 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Dycom Industries by 7.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock worth $10,622,000 after buying an additional 4,985 shares during the period. Invesco Ltd. lifted its stake in Dycom Industries by 7.0% in the second quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock valued at $55,508,000 after buying an additional 14,891 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Dycom Industries by 73.1% in the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after buying an additional 68 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Dycom Industries by 8.9% during the second quarter. Cerity Partners LLC now owns 2,239 shares of the construction company’s stock valued at $547,000 after acquiring an additional 183 shares during the period. 98.33% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently commented on DY. JPMorgan Chase & Co. lowered their price target on shares of Dycom Industries from $650.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday. Weiss Ratings raised shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. KeyCorp decreased their target price on shares of Dycom Industries from $610.00 to $423.00 and set an “overweight” rating for the company in a research report on Thursday. Zacks Research lowered shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Guggenheim boosted their price objective on Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $514.00.
Dycom Industries Price Performance
Shares of NYSE:DY 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 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, Inc. has a 12 month low of $242.55 and a 12 month high of $566.47. The stock’s 50 day moving average price is $421.24 and its 200 day moving average price is $414.57.
Dycom Industries (NYSE:DY – Get Free Report) last announced 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. 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 analysts’ expectations of $1.98 billion. During the same quarter last year, the business posted $3.33 earnings per share. The company’s quarterly 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. Equities research analysts anticipate that Dycom Industries, Inc. will post 15.45 earnings per share for the current fiscal year.
Dycom Industries announced that its board has approved a stock repurchase plan on Wednesday, August 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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
Dycom Industries 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.
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