Dycom Industries, Inc. $DY Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in shares of Dycom Industries, Inc. (NYSE:DY) by 885.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,760 shares of the construction company’s stock after acquiring an additional 18,654 shares during the quarter. Hsbc Holdings PLC owned 0.07% of Dycom Industries worth $10,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of DY. Archer Investment Corp purchased a new position in Dycom Industries in the 2nd quarter valued at approximately $333,000. Glenview Trust Co acquired a new stake in Dycom Industries in the second quarter valued at $255,000. Empowered Funds LLC acquired a new stake in Dycom Industries in the second quarter valued at $788,000. Equitable Holdings Inc. purchased a new position in shares of Dycom Industries in the second quarter valued at $5,777,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Dycom Industries during the 2nd quarter worth $6,187,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Insider Activity

In related news, Director David Fallon bought 700 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was purchased at an average cost of $286.92 per share, for a total transaction of $200,844.00. Following the completion of the acquisition, the director owned 1,043 shares in the company, valued at $299,257.56. This trade represents a 204.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

DY has been the topic of several recent research reports. Wells Fargo & Company set a $476.00 price objective on shares of Dycom Industries in a research report on Thursday, August 27th. Raymond James Financial set a $375.00 price target on shares of Dycom Industries in a report on Thursday, September 3rd. Wall Street Zen cut shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. KeyCorp reduced their target price on Dycom Industries from $610.00 to $423.00 and set an “overweight” rating on the stock in a research note on Thursday, August 27th. Finally, Zacks Research cut Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $502.42.

Dycom Industries Stock Performance

Dycom Industries stock opened at $290.62 on Thursday. The stock has a fifty day moving average price of $387.52 and a 200 day moving average price of $406.62. Dycom Industries, Inc. has a 52 week low of $250.82 and a 52 week high of $566.47. The firm has a market capitalization of $8.76 billion, a P/E ratio of 26.44, a PEG ratio of 0.53 and a beta of 1.49. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company earned $3.33 EPS. The firm’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 15.63 earnings per share for the current year.

Dycom Industries declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

About Dycom Industries

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.