Corient Private Wealth LP Purchases New Shares in Dycom Industries, Inc. $DY

Key Points

• Corient Private Wealth LP acquired 16,894 Dycom Industries shares worth approximately $8.54 million, while institutional investors collectively own 98.33% of the company.
• Dycom reported stronger-than-expected quarterly results, with EPS of $5.29 versus $4.72 expected and revenue up 45.6% year over year to $2.01 billion. The board also authorized a $150 million share-repurchase program, covering up to 1.4% of outstanding shares.
• Despite the earnings beat and generally bullish analyst ratings, shares face near-term pressure from below-consensus fiscal third-quarter EPS guidance of $4.33–$4.79 and a $150 million wireless-revenue deferral; analysts’ average price target is $514.

Corient Private Wealth LP bought a new position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,894 shares of the construction company's stock, valued at approximately $8,541,000. Corient Private Wealth LP owned 0.06% of Dycom Industries as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DY. Northwestern Mutual Wealth Management Co. boosted its position in shares of Dycom Industries by 265,593,055.6% in the 4th 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. Peconic Partners LLC increased its holdings in shares of Dycom Industries by 2.8% during the second quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company's stock valued at $933,038,000 after acquiring an additional 105,586 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Dycom Industries in the 2nd quarter worth about $1,513,523,000. Hill City Capital LP purchased a new position in shares of Dycom Industries in the 2nd quarter worth about $510,536,693. Finally, First Trust Advisors LP boosted its stake in Dycom Industries by 27.8% in the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company's stock worth $270,615,000 after purchasing an additional 173,528 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Stock Performance

NYSE:DY opened at $295.11 on Monday. 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 $242.55 and a 12-month high of $566.47. The stock has a 50-day moving average price of $418.01 and a 200 day moving average price of $413.72. The stock has a market capitalization of $8.86 billion, a P/E ratio of 26.85, a P/E/G ratio of 0.52 and a beta of 1.54.

Dycom Industries (NYSE:DY - Get Free Report) last issued its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.72 by $0.57. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The firm had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same period in the previous year, the firm posted $3.33 earnings per share. The business's revenue 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 forecast that Dycom Industries, Inc. will post 15.44 EPS for the current fiscal year.

Dycom Industries announced that its board has initiated a stock buyback program on Wednesday, August 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Dycom Industries News Roundup

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

Analysts Set New Price Targets

DY has been the subject of several analyst reports. Zacks Research downgraded shares of Dycom Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. B. Riley Financial upped their price objective on Dycom Industries from $485.00 to $625.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. KeyCorp dropped their price objective on Dycom Industries from $610.00 to $423.00 and set an "overweight" rating on the stock in a research report on Thursday. Wedbush set a $654.00 target price on shares of Dycom Industries in a report on Friday, May 29th. Finally, Wall Street Zen cut Dycom Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average 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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