Hsbc Holdings PLC Boosts Stake in Dycom Industries, Inc. $DY

Hsbc Holdings PLC grew its position in shares of Dycom Industries, Inc. (NYSE:DY) by 885.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 20,760 shares of the construction company’s stock after acquiring an additional 18,654 shares during the period. Hsbc Holdings PLC’s holdings in Dycom Industries were worth $10,468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of DY. Kemnay Advisory Services Inc. acquired a new stake in Dycom Industries during the 4th quarter worth approximately $30,000. Allworth Financial LP purchased a new stake in Dycom Industries during the second quarter worth approximately $35,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Dycom Industries in the fourth quarter worth $35,000. EverSource Wealth Advisors LLC increased its position in shares of Dycom Industries by 73.1% in the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock worth $39,000 after acquiring an additional 68 shares in the last quarter. Finally, Nemes Rush Group LLC purchased a new position in shares of Dycom Industries in the 4th quarter valued at $40,000. 98.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Dycom Industries

In related news, Director David Fallon purchased 700 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was acquired at an average price of $286.92 per share, with a total value of $200,844.00. Following the completion of the transaction, the director owned 1,043 shares of the company’s stock, valued at $299,257.56. This represents a 204.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.22% of the company’s stock.

Dycom Industries Stock Down 4.1%

Shares of Dycom Industries stock opened at $290.62 on Thursday. Dycom Industries, Inc. has a 1-year low of $250.82 and a 1-year high of $566.47. The company has a market capitalization of $8.76 billion, a PE ratio of 26.44, a P/E/G ratio of 0.53 and a beta of 1.49. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.35 and a quick ratio of 2.24. The business has a 50-day moving average of $387.52 and a 200-day moving average of $406.62.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 EPS 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 quarter in the prior year, the business posted $3.33 earnings per share. Dycom Industries’s revenue for the quarter was up 45.6% on a year-over-year basis. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, equities analysts forecast that Dycom Industries, Inc. will post 15.63 EPS for the current fiscal year.

Dycom Industries declared that its board has approved a share buyback plan on Wednesday, August 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 1.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DY shares. Wall Street Zen cut shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. JPMorgan Chase & Co. reduced their price objective on Dycom Industries from $650.00 to $570.00 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 research note on Monday, July 27th. Wells Fargo & Company set a $476.00 target price on Dycom Industries in a report on Thursday, August 27th. Finally, UBS Group reduced their price target on Dycom Industries from $611.00 to $525.00 and set a “buy” rating on the stock in a research report on Thursday, August 27th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.