Dycom Industries (NYSE:DY) Shares Climb 6.1% – Here’s Why

Dycom Industries, Inc. (NYSE:DY)’s stock price was up 6.1% during mid-day trading on Tuesday. The company traded as high as $284.43 and last traded at $291.2760. Approximately 34,763 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 510,853 shares. The stock had previously closed at $274.41.

Wall Street Analyst Weigh In

DY has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $476.00 price target on shares of Dycom Industries in a research note on Thursday, September 24th. Zacks Research lowered shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Raymond James Financial set a $375.00 price objective on shares of Dycom Industries in a research note on Thursday, September 3rd. KeyCorp raised their target price on shares of Dycom Industries from $423.00 to $429.00 and gave the stock an “overweight” rating in a research report on Monday, September 21st. Finally, Wall Street Zen cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $502.92.

Dycom Industries Trading Up 6.8%

The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 0.46 and a beta of 1.50. The business has a 50 day simple moving average of $335.99 and a 200-day simple moving average of $393.01.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, beating analysts’ consensus estimates of $4.72 by $0.57. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The company’s quarterly 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 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities analysts predict that Dycom Industries, Inc. will post 16.06 earnings per share for the current year.

Dycom Industries declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Carmen Sabater purchased 350 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were bought at an average price 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 position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David Fallon purchased 700 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was bought at an average price 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 $299,257.56. The trade was a 204.08% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.22% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DY. BlackRock Inc. purchased a new stake in Dycom Industries during the second quarter valued at about $1,513,523,000. Hill City Capital LP purchased a new position in shares of Dycom Industries in the 2nd quarter worth about $510,536,693. First Trust Advisors LP lifted its stake in shares of Dycom Industries by 27.8% in the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock valued at $270,615,000 after purchasing an additional 173,528 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Dycom Industries during the 2nd quarter worth about $270,174,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Dycom Industries by 19.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 396,240 shares of the construction company’s stock worth $134,254,000 after purchasing an additional 65,724 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Company 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.