California State Teachers Retirement System Acquires 967 Shares of Dycom Industries, Inc. $DY

California State Teachers Retirement System grew its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,839 shares of the construction company's stock after purchasing an additional 967 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Dycom Industries worth $17,614,250 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Comprehensive Financial Planning Inc. PA acquired a new stake in Dycom Industries in the second quarter valued at $383,000. TD Waterhouse Canada Inc. grew its position in Dycom Industries by 4.5% during the second quarter. TD Waterhouse Canada Inc. now owns 20,549 shares of the construction company's stock worth $9,674,000 after buying an additional 880 shares in the last quarter. Kickstand Ventures LLC. bought a new stake in Dycom Industries during the 2nd quarter worth about $206,000. AXQ Capital LP bought a new position in Dycom Industries during the second quarter worth about $1,166,000. Finally, Continuum Advisory LLC acquired a new stake in shares of Dycom Industries in the 2nd quarter valued at approximately $59,000. Institutional investors and hedge funds own 98.33% of the company's stock.

Dycom Industries Stock Down 1.2%

Shares of DY traded down $3.58 during trading hours on Tuesday, reaching $283.25. The stock had a trading volume of 165,516 shares, compared to its average volume of 501,634. 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 12 month low of $250.82 and a 12 month high of $566.47. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 0.54 and a beta of 1.49. The firm has a 50-day simple moving average of $379.23 and a 200 day simple moving average of $403.89.

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

Dycom Industries declared that its Board of Directors has approved a stock buyback program on Wednesday, August 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Dycom Industries

In other news, Director David Fallon purchased 700 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was acquired at an average cost of $286.92 per share, with a total value of $200,844.00. Following the acquisition, the director owned 1,043 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on DY. 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. Cantor Fitzgerald cut their price objective on shares of Dycom Industries from $654.00 to $476.00 and set an "overweight" rating on the stock in a report on Thursday, August 27th. Guggenheim upped their price objective on shares of Dycom Industries from $575.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. UBS Group dropped 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 target on shares of Dycom Industries in a report on Thursday, August 27th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Dycom Industries presently has a consensus rating of "Moderate Buy" and an average target price 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.

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