VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 5,450 Dycom Industries, Inc. $DY

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Dycom Industries, Inc. (NYSE:DY) during the 2nd quarter, Holdings Channel reports. The firm acquired 5,450 shares of the construction company’s stock, valued at approximately $2,755,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kemnay Advisory Services Inc. bought a new stake in shares of Dycom Industries in the fourth quarter valued at about $30,000. Allworth Financial LP acquired a new stake in Dycom Industries in the 2nd quarter worth about $35,000. Acumen Wealth Advisors LLC acquired a new stake in Dycom Industries in the 4th quarter worth about $35,000. EverSource Wealth Advisors LLC raised its stake in Dycom Industries by 73.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock worth $39,000 after purchasing an additional 68 shares in the last quarter. Finally, Nemes Rush Group LLC bought a new stake in Dycom Industries in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Insider Activity

In related news, Director David Fallon purchased 700 shares of the stock in a transaction dated Tuesday, September 1st. The stock was bought at an average cost of $286.92 per share, for a total transaction of $200,844.00. Following the completion of the acquisition, the director owned 1,043 shares of the company’s stock, valued at approximately $299,257.56. This represents 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. Company insiders own 1.22% of the company’s stock.

Dycom Industries Stock Up 1.9%

DY stock opened at $296.00 on Friday. The firm has a 50-day moving average price of $384.69 and a 200-day moving average price of $405.68. Dycom Industries, Inc. has a 12 month low of $250.82 and a 12 month high of $566.47. 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 $8.93 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 0.51 and a beta of 1.49.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $0.57. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The firm’s revenue was up 45.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, equities research analysts anticipate that Dycom Industries, Inc. will post 15.63 EPS for the current fiscal year.

Dycom Industries announced that its Board of Directors has authorized a share repurchase program on Wednesday, August 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DY shares. Wall Street Zen cut shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Guggenheim increased their price target on Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. dropped their price objective on Dycom Industries from $650.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, August 27th. Weiss Ratings cut Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 31st. Finally, UBS Group cut their target price on Dycom Industries from $611.00 to $525.00 and set a “buy” rating for the company in a research report on Thursday, August 27th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $502.42.

About Dycom Industries

Dycom Industries, Inc is a specialty contractor that provides infrastructure construction and maintenance services for the telecommunications and utility industries. The company supports the expansion, upgrade and upkeep of communications networks, including fiber-optic, broadband, wireless and other voice and data systems.

Its services include engineering and design, aerial and underground construction, fiber and cable installation, wireless infrastructure deployment, network maintenance, utility locating, vegetation management and emergency restoration.