Dycom Industries, Inc. (NYSE:DY – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $262.17 and last traded at $265.8850, with a volume of 26,881 shares. The stock had previously closed at $266.99.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Weiss Ratings downgraded shares of Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Zacks Research cut shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Wall Street Zen raised shares of Dycom Industries from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group reissued a “buy” rating on shares of Dycom Industries in a report on Thursday, September 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $476.00 price target on shares of Dycom Industries in a report on Friday. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $502.92.
Read Our Latest Report on Dycom Industries
Dycom Industries Price Performance
Dycom Industries (NYSE:DY – Get Free Report) last released its quarterly 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. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The firm’s revenue for the quarter was up 45.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, research analysts predict 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 buyback program on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 1.4% of its shares through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling
In other news, Director Carmen M. Sabater purchased 350 shares of Dycom Industries stock in a transaction that occurred on 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 purchase, 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 can be accessed through this hyperlink. Also, Director David Fallon acquired 700 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was purchased at an average price of $286.92 per share, with a total value of $200,844.00. Following the acquisition, the director owned 1,043 shares of the company’s stock, valued at $299,257.56. This represents a 204.08% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.22% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Dycom Industries
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Dycom Industries in the 2nd quarter worth approximately $1,513,523,000. Hill City Capital LP bought a new position in Dycom Industries during the 2nd quarter valued at approximately $510,536,693. First Trust Advisors LP increased its position in Dycom Industries by 27.8% during 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 in the last quarter. Bank of America Corp DE purchased a new position in Dycom Industries during the second quarter valued at $270,174,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Dycom Industries by 19.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 396,240 shares of the construction company’s stock valued at $134,254,000 after buying an additional 65,724 shares during the last quarter. Institutional investors own 98.33% of the company’s stock.
About Dycom Industries
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.
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