Dycom Industries, Inc. $DY Stock: Hennessy Advisors Inc. Trims Stake

Hennessy Advisors Inc. lessened its position in shares of Dycom Industries, Inc. (NYSE:DY) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 139,200 shares of the construction company’s stock after selling 4,400 shares during the quarter. Dycom Industries accounts for approximately 1.4% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 15th largest holding. Hennessy Advisors Inc.’s holdings in Dycom Industries were worth $37,456,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Root Financial Partners LLC bought a new position in Dycom Industries in the third quarter worth $31,000. Allworth Financial LP bought a new stake in Dycom Industries in the 2nd quarter valued at $35,000. Legacy Wealth Managment LLC ID increased its holdings in Dycom Industries by 30.4% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company’s stock valued at $51,000 after buying an additional 35 shares during the period. Harbor Investment Advisory LLC acquired a new position in shares of Dycom Industries in the 2nd quarter valued at $52,000. Finally, Continuum Advisory LLC bought a new position in shares of Dycom Industries during the 2nd quarter worth about $59,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Dycom Industries news, Director Carmen Sabater acquired 350 shares of the business’s stock in a transaction on Wednesday, September 23rd. The stock was purchased at an average price of $280.62 per share, for a total transaction of $98,217.00. Following the transaction, the director owned 7,154 shares in the company, valued at $2,007,555.48. This trade represents a 5.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Fallon acquired 700 shares of Dycom Industries stock in a transaction on Tuesday, September 1st. The stock was acquired at an average cost of $286.92 per share, for a total transaction of $200,844.00. Following the purchase, 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 position. The SEC filing for this purchase provides additional information. Company insiders own 1.22% of the company’s stock.

Dycom Industries Stock Performance

NYSE DY opened at $227.42 on Monday. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 0.39 and a beta of 1.53. The company has a 50 day moving average of $278.94 and a 200-day moving average of $378.40. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. Dycom Industries, Inc. has a 1-year low of $215.28 and a 1-year high of $566.47.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, topping the consensus estimate of $4.72 by $0.57. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.98 billion. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%. Dycom Industries’s revenue was up 45.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities analysts forecast that Dycom Industries, Inc. will post 15.98 earnings per share for the current fiscal year.

Dycom Industries declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 26th that authorizes the company to buy back $150 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on DY shares. Wells Fargo & Company set a $476.00 target price on shares of Dycom Industries in a research report on Thursday, August 27th. Zacks Research downgraded Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Wall Street Zen lowered Dycom Industries from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. lowered their price target on Dycom Industries from $650.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, August 27th. Finally, Weiss Ratings lowered Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $502.92.

About Dycom Industries

Dycom Industries, Inc is a specialty contracting company that provides infrastructure services to telecommunications providers, utilities, cable and broadband companies, and government agencies. Headquartered in Palm Beach Gardens, Florida, the company operates primarily across the United States.

Its services include engineering, construction, installation, maintenance, and repair of telecommunications infrastructure. Dycom supports the deployment of fiber-optic networks, broadband systems, wireless networks, underground and aerial lines, and other communications facilities.