Van ECK Associates Corp Makes New $4.47 Million Investment in Dycom Industries, Inc. $DY

Van ECK Associates Corp bought a new stake in Dycom Industries, Inc. (NYSE:DY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,838 shares of the construction company’s stock, valued at approximately $4,468,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP purchased a new position in shares of Dycom Industries during the 2nd quarter worth $35,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Dycom Industries in the fourth quarter valued at about $30,000. Harbor Investment Advisory LLC purchased a new stake in shares of Dycom Industries in the second quarter valued at about $52,000. Acumen Wealth Advisors LLC acquired a new stake in Dycom Industries during the fourth quarter worth about $35,000. Finally, Legacy Wealth Managment LLC ID purchased a new position in Dycom Industries during the fourth quarter worth about $39,000. 98.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Dycom Industries

In related news, Director David Joseph Fallon bought 700 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was purchased at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the acquisition, the director owned 1,043 shares of the company’s stock, valued at approximately $299,257.56. This trade represents a 204.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.22% of the company’s stock.

Dycom Industries Trading Up 3.3%

NYSE DY opened at $296.88 on Thursday. 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 stock has a market capitalization of $8.95 billion, a P/E ratio of 27.01, a PEG ratio of 0.50 and a beta of 1.49. The firm’s 50-day moving average is $407.07 and its two-hundred day moving average is $411.02. Dycom Industries, Inc. has a 12 month low of $243.80 and a 12 month high of $566.47.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results 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. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The business’s revenue for the quarter was up 45.6% on a year-over-year basis. During the same period last year, the business earned $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, sell-side analysts anticipate that Dycom Industries, Inc. will post 15.63 earnings per share for the current year.

Dycom Industries declared that its board has approved a stock repurchase program on Wednesday, August 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DY shares. Wall Street Zen lowered shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. KeyCorp cut their price target on shares of Dycom Industries from $610.00 to $423.00 and set an “overweight” rating for the company in a report on Thursday, August 27th. B. Riley Financial lifted their price target 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. UBS Group decreased their price objective on Dycom Industries from $611.00 to $525.00 and set a “buy” rating on the stock in a report on Thursday, August 27th. Finally, Wells Fargo & Company set a $476.00 price objective on Dycom Industries in a research report on Thursday, August 27th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Dycom Industries presently has a consensus rating of “Moderate Buy” and a consensus price target 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.