Van ECK Associates Corp Buys New Stake in Dycom Industries, Inc. $DY

Van ECK Associates Corp purchased a new position in shares of Dycom Industries, Inc. (NYSE:DY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,838 shares of the construction company’s stock, valued at approximately $4,468,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its holdings in Dycom Industries by 4,626.1% in the first quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock valued at $331,000 after buying an additional 2,128 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Dycom Industries by 7.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock worth $10,622,000 after acquiring an additional 4,985 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Dycom Industries by 7.0% during the 2nd quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock worth $55,508,000 after acquiring an additional 14,891 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Dycom Industries by 73.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after acquiring an additional 68 shares during the period. Finally, Cerity Partners LLC grew its position in shares of Dycom Industries by 8.9% during the 2nd quarter. Cerity Partners LLC now owns 2,239 shares of the construction company’s stock valued at $547,000 after acquiring an additional 183 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Up 3.3%

Shares of DY opened at $296.88 on Thursday. The stock has a 50 day moving average price of $407.07 and a 200 day moving average price of $411.02. Dycom Industries, Inc. has a one year low of $243.80 and a one year high of $566.47. 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 stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 0.50 and a beta of 1.49.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data 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 company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm posted $3.33 EPS. The firm’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. Equities research analysts forecast that Dycom Industries, Inc. will post 15.63 earnings per share for the current fiscal year.

Dycom Industries declared that its Board of Directors has authorized a stock buyback program 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 programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DY shares. Guggenheim upped their price target on Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wells Fargo & Company set a $476.00 target price on Dycom Industries in a research report on Thursday, August 27th. Zacks Research lowered shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Cantor Fitzgerald decreased their price objective on shares of Dycom Industries from $654.00 to $476.00 and set an “overweight” rating on the stock in a report on Thursday, August 27th. Finally, B. Riley Financial lifted their target price on shares of Dycom Industries from $485.00 to $625.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Dycom Industries presently has a consensus rating of “Moderate Buy” and an average price target of $514.00.

Insiders Place Their Bets

In other Dycom Industries news, Director David Joseph Fallon acquired 700 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was bought at an average price of $286.92 per share, with a total value of $200,844.00. Following the purchase, the director owned 1,043 shares in the company, valued at approximately $299,257.56. The trade was a 204.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.22% of the company’s stock.

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.