Tribune Investment Group LP acquired a new position in Dycom Industries, Inc. (NYSE:DY – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund acquired 5,830 shares of the construction company’s stock, valued at approximately $2,948,000. Dycom Industries accounts for about 1.2% of Tribune Investment Group LP’s investment portfolio, making the stock its 29th largest holding.
A number of other institutional investors and hedge funds have also bought and sold shares of DY. Northwestern Mutual Wealth Management Co. lifted its holdings in Dycom Industries by 265,593,055.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock worth $8,076,953,000 after buying an additional 23,903,375 shares during the period. BlackRock Inc. acquired a new stake in shares of Dycom Industries in the second quarter valued at about $1,513,523,000. Bank of New York Mellon Corp bought a new position in shares of Dycom Industries during the second quarter worth about $90,216,000. First Trust Advisors LP raised its position in shares of Dycom Industries by 27.8% during the first quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock worth $270,615,000 after acquiring an additional 173,528 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Dycom Industries in the third quarter worth approximately $44,553,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Dycom Industries
In other news, Director David Fallon bought 700 shares of Dycom Industries stock in a transaction dated Tuesday, September 1st. The stock was purchased at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the purchase, the director directly owned 1,043 shares in the company, valued at $299,257.56. The trade was a 204.08% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.22% of the stock is owned by corporate insiders.
Dycom Industries Stock Performance
Dycom Industries (NYSE:DY – Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.72 by $0.57. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.Dycom Industries’s revenue was up 45.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Equities analysts anticipate that Dycom Industries, Inc. will post 15.63 earnings per share for the current fiscal year.
Dycom Industries announced that its Board of Directors has initiated a share buyback program on Wednesday, August 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. UBS Group decreased their target price on shares of Dycom Industries from $611.00 to $525.00 and set a “buy” rating for the company in a research report on Thursday, August 27th. Guggenheim boosted their price objective on Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. KeyCorp cut their target price on shares of Dycom Industries from $610.00 to $423.00 and set an “overweight” rating on the stock in a research note on Thursday, August 27th. Zacks Research lowered Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, B. Riley Financial upped their price objective on shares of Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $502.42.
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.
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