4,400 Dycom Industries, Inc. $DY Shares Sold by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors reduced its Dycom Industries stake by 3.1%, selling 4,400 shares and retaining 139,200 shares valued at approximately $37.5 million. Institutional investors and hedge funds collectively own 98.33% of the company.
• Analyst sentiment remains positive but has softened, with recent downgrades to “hold” and JPMorgan lowering its price target to $570. Despite this, Dycom has a consensus “Moderate Buy” rating and an average target price of $502.92.
• Dycom reported quarterly earnings and revenue above expectations, with revenue up 45.6% year over year, and authorized a $150 million share-repurchase program. The stock opened at $227.42, near its 52-week low of $215.28 and well below its $566.47 high.

Hennessy Advisors Inc. lowered its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,200 shares of the construction company's stock after selling 4,400 shares during the quarter. Dycom Industries accounts for about 1.4% of Hennessy Advisors Inc.'s holdings, making the stock its 15th largest position. Hennessy Advisors Inc. owned approximately 0.46% of Dycom Industries worth $37,456,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Legacy Wealth Managment LLC ID grew its stake in Dycom Industries by 30.4% during the 1st 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. Triumph Capital Management lifted its position in shares of Dycom Industries by 4.1% in the second quarter. Triumph Capital Management now owns 996 shares of the construction company's stock worth $504,000 after purchasing an additional 39 shares in the last quarter. Arizona State Retirement System grew its position in Dycom Industries by 0.5% during the second quarter. Arizona State Retirement System now owns 8,283 shares of the construction company's stock valued at $4,188,000 after purchasing an additional 44 shares in the last quarter. Somerset Trust Co grew its position in Dycom Industries by 0.7% during the second quarter. Somerset Trust Co now owns 6,285 shares of the construction company's stock valued at $3,178,000 after purchasing an additional 45 shares in the last quarter. Finally, Lido Advisors LLC increased its stake in Dycom Industries by 8.7% in the 1st quarter. Lido Advisors LLC now owns 762 shares of the construction company's stock valued at $258,000 after buying an additional 61 shares during the period. 98.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on DY. Wall Street Zen downgraded Dycom Industries from a "buy" rating to a "hold" rating in a report on Saturday. Raymond James Financial set a $375.00 price target on Dycom Industries in a research note on Thursday, September 3rd. Zacks Research lowered Dycom Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Oppenheimer started coverage on Dycom Industries in a research note on Tuesday, October 27th. They issued a "market perform" rating on the stock. Finally, JPMorgan Chase & Co. reduced their target price on Dycom Industries from $650.00 to $570.00 and set an "overweight" rating for the company in a report on Thursday, August 27th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $502.92.

Dycom Industries Trading Down 0.1%

Dycom Industries stock opened at $227.42 on Monday. 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 business's 50-day simple moving average is $278.94 and its 200-day simple moving average is $378.40. The firm has a market capitalization of $6.86 billion, a PE ratio of 20.69, a PEG ratio of 0.39 and a beta of 1.53. Dycom Industries, Inc. has a 52 week low of $215.28 and a 52 week high of $566.47.

Dycom Industries (NYSE:DY - Get Free Report) last announced its earnings results 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. The firm had revenue of $2.01 billion during 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%. The firm's revenue for the quarter was up 45.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Equities research analysts forecast that Dycom Industries, Inc. will post 15.98 earnings per share for the current year.

Dycom Industries declared that its board has initiated a stock repurchase 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 reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Carmen M. Sabater acquired 350 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were acquired at an average price of $280.62 per share, for a total transaction of $98,217.00. Following the completion of the purchase, the director owned 7,154 shares in the company, valued at approximately $2,007,555.48. The trade was a 5.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Fallon bought 700 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were bought at an average cost of $286.92 per share, for a total transaction of $200,844.00. Following the transaction, the director directly owned 1,043 shares of the company's stock, valued at $299,257.56. This trade represents a 204.08% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.22% of the stock is owned by insiders.

Dycom Industries Company Profile

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.

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