Man Group plc Invests $2.36 Million in Dycom Industries, Inc. $DY

Man Group plc bought a new position in shares of Dycom Industries, Inc. (NYSE:DY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,668 shares of the construction company’s stock, valued at approximately $2,360,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DY. &PARTNERS increased its stake in Dycom Industries by 2.5% in the fourth quarter. &PARTNERS now owns 1,053 shares of the construction company’s stock valued at $356,000 after purchasing an additional 26 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Dycom Industries by 17.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 203 shares of the construction company’s stock worth $69,000 after acquiring an additional 30 shares during the period. Legacy Wealth Managment LLC ID boosted its holdings in shares of Dycom Industries by 30.4% in the first quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company’s stock valued at $51,000 after acquiring an additional 35 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Dycom Industries by 1.7% during the fourth quarter. Osaic Holdings Inc. now owns 2,062 shares of the construction company’s stock worth $697,000 after purchasing an additional 35 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of Dycom Industries by 4.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 943 shares of the construction company’s stock worth $320,000 after purchasing an additional 36 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Insider Buying and Selling at Dycom Industries

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

Dycom Industries Stock Down 1.6%

DY stock opened at $286.54 on Wednesday. The business’s 50-day simple moving average is $410.80 and its 200 day simple moving average is $411.86. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 1.35. Dycom Industries, Inc. has a twelve month low of $242.55 and a twelve month high of $566.47. The company has a market cap of $8.64 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 0.51 and a beta of 1.49.

Dycom Industries (NYSE:DY) last released its quarterly earnings data 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. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The company had revenue of $2.01 billion for the quarter, compared to analyst estimates 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. On average, research analysts anticipate that Dycom Industries, Inc. will post 15.63 earnings per share for the current year.

Dycom Industries declared that its board 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 reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

DY has been the subject of several research reports. Wall Street Zen downgraded shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Guggenheim raised their target price on Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. B. Riley Financial boosted their price target on shares of Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wedbush set a $654.00 price target on shares of Dycom Industries in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Dycom Industries from $650.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, August 27th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $514.00.

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.