Alyeska Investment Group L.P. Has $141.81 Million Stake in Dycom Industries, Inc. $DY

Alyeska Investment Group L.P. lessened its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 20.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 280,486 shares of the construction company's stock after selling 73,714 shares during the period. Alyeska Investment Group L.P. owned 0.93% of Dycom Industries worth $141,811,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Dycom Industries by 265,593,055.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company's stock worth $8,076,953,000 after purchasing an additional 23,903,375 shares in the last quarter. BlackRock Inc. acquired a new stake in Dycom Industries during the 2nd quarter worth $1,513,523,000. Hill City Capital LP bought a new position in shares of Dycom Industries in the 2nd quarter worth $510,536,693. Bank of America Corp DE acquired a new stake in shares of Dycom Industries in the 2nd quarter valued at approximately $270,174,000. Finally, Bank of New York Mellon Corp bought a new position in Dycom Industries during the 2nd quarter worth approximately $90,216,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Stock Performance

Shares of DY stock opened at $295.11 on Friday. The company's fifty day simple moving average is $418.01 and its 200-day simple moving average is $413.73. The company has a quick ratio of 2.46, a current ratio of 2.35 and a debt-to-equity ratio of 1.35. The firm has a market cap of $8.86 billion, a PE ratio of 26.85, a P/E/G ratio of 0.52 and a beta of 1.54. Dycom Industries, Inc. has a 12 month low of $242.55 and a 12 month high of $566.47.

Dycom Industries (NYSE:DY - Get Free Report) last released its 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. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the firm earned $3.33 earnings per share. The firm's revenue for the quarter was up 45.6% compared to the same quarter last year. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Equities research analysts expect that Dycom Industries, Inc. will post 15.44 EPS for the current fiscal year.

Dycom Industries announced that its board has approved a stock repurchase plan on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Key Headlines Impacting Dycom Industries

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Dycom reported second-quarter earnings of $5.29 per share, above the $4.72 consensus estimate, while revenue reached approximately $2.01 billion versus expectations of $1.98 billion. Revenue increased 45.6% year over year, supported by communications infrastructure and digital-infrastructure demand. Dycom Industries beats Q2 forecasts as digital infrastructure demand accelerates
• Positive Sentiment: Management raised its fiscal 2027 revenue outlook, citing continued strength in fiber, data-center connectivity and Building Systems. These trends point to a multiyear opportunity from fiber-network expansion and AI-related infrastructure spending. DY Q2 Earnings Call Focuses on Fiber Demand and Higher Outlook
• Positive Sentiment: The board authorized a $150 million share-repurchase program, equivalent to as much as 1.4% of outstanding shares. The authorization may support per-share results and signals that management believes the stock is undervalued. Stock Buyback Program Declared by Dycom Industries
• Neutral Sentiment: JPMorgan, UBS, Wells Fargo, KeyCorp and Cantor Fitzgerald lowered their price targets following the earnings report but retained bullish ratings, including “overweight” or “buy.” The target cuts reflect reduced near-term assumptions rather than a broadly negative long-term view.
• Negative Sentiment: The main pressure is fiscal third-quarter EPS guidance of $4.33 to $4.79, which is below analyst expectations. Investors are also concerned about a $150 million wireless-revenue deferral, helping explain why the strong quarterly beat has not translated into positive stock performance. Why Dycom Industries Stock Is Plummeting This Week

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wedbush set a $654.00 price objective on Dycom Industries in a research report on Friday, May 29th. Weiss Ratings upgraded shares of Dycom Industries from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 13th. Zacks Research lowered shares of Dycom Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. JPMorgan Chase & Co. reduced their price target on shares of Dycom Industries from $650.00 to $570.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Cantor Fitzgerald lowered their price objective on shares of Dycom Industries from $654.00 to $476.00 and set an "overweight" rating for the company in a research report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $514.00.

About Dycom Industries

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.

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