9,677 Shares of Dycom Industries, Inc. $DY Purchased by Essex LLC

Essex LLC acquired a new position in shares of Dycom Industries, Inc. (NYSE:DY) during the 3rd quarter, Holdings Channel reports. The fund acquired 9,677 shares of the construction company’s stock, valued at approximately $2,604,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DY. Legacy Wealth Managment LLC ID lifted its holdings in shares of Dycom Industries by 30.4% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company’s stock valued at $51,000 after purchasing an additional 35 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in Dycom Industries by 4.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 943 shares of the construction company’s stock valued at $320,000 after acquiring an additional 36 shares in the last quarter. Triumph Capital Management raised its holdings in shares of Dycom Industries by 4.1% in the second quarter. Triumph Capital Management now owns 996 shares of the construction company’s stock valued at $504,000 after purchasing an additional 39 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Dycom Industries by 0.5% in the second quarter. Arizona State Retirement System now owns 8,283 shares of the construction company’s stock worth $4,188,000 after purchasing an additional 44 shares in the last quarter. Finally, Somerset Trust Co grew its position in Dycom Industries by 0.7% in the second quarter. Somerset Trust Co now owns 6,285 shares of the construction company’s stock valued at $3,178,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DY. Cantor Fitzgerald restated an “overweight” rating and issued a $476.00 price target on shares of Dycom Industries in a research note on Friday, October 9th. Zacks Research cut shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Wall Street Zen raised Dycom Industries from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. decreased their price objective on shares of Dycom Industries from $650.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, August 27th. Finally, Guggenheim reaffirmed a “buy” rating and set a $620.00 target price on shares of Dycom Industries in a report on Thursday, September 17th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Dycom Industries has an average rating of “Moderate Buy” and a consensus target price of $502.92.

Dycom Industries Price Performance

Shares of DY stock traded down $9.75 during trading on Wednesday, hitting $259.89. The company had a trading volume of 632,544 shares, compared to its average volume of 515,001. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.35. The firm has a market capitalization of $7.84 billion, a P/E ratio of 23.65, a price-to-earnings-growth ratio of 0.45 and a beta of 1.50. The stock’s 50-day moving average price is $320.71 and its 200 day moving average price is $389.91. Dycom Industries, Inc. has a one year low of $258.00 and a one year high of $566.47.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the company posted $3.33 EPS. The company’s revenue was up 45.6% compared to the same quarter last year. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Equities analysts expect that Dycom Industries, Inc. will post 16.06 EPS for the current fiscal year.

Dycom Industries announced that its board has authorized a share buyback program on Wednesday, August 26th that allows the company to buy back $150.00 million in shares. This buyback authorization allows the construction company to purchase up to 1.4% of its stock through open market purchases. Share buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Carmen Sabater acquired 350 shares of the stock in a transaction on Wednesday, September 23rd. The stock was acquired at an average cost of $280.62 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Fallon bought 700 shares of Dycom Industries stock in a transaction on Tuesday, September 1st. The stock was acquired at an average cost of $286.92 per share, for a total transaction of $200,844.00. Following the acquisition, the director owned 1,043 shares in the company, valued at approximately $299,257.56. This represents a 204.08% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.22% of the company’s stock.

Dycom Industries Profile

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.