Dycom Industries, Inc. $DY Shares Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP more than doubled its Dycom Industries stake in the second quarter, acquiring 8,731 additional shares for a total of 16,864 shares. Institutional investors and hedge funds collectively own 98.33% of the company.
• Dycom exceeded quarterly expectations, reporting $5.29 in EPS versus the $4.72 consensus and $2.01 billion in revenue, up 45.6% year over year. The board also authorized a $150 million share buyback, covering up to 1.4% of outstanding shares.
• Analysts maintain a favorable outlook, with 11 Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and a $502.42 target price. The stock opened at $287.41, well below its 12-month high of $566.47.

Corient Private Wealth LP boosted its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 107.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,864 shares of the construction company's stock after acquiring an additional 8,731 shares during the quarter. Corient Private Wealth LP owned 0.06% of Dycom Industries worth $8,526,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Dycom Industries in the 2nd quarter worth approximately $1,513,523,000. Hill City Capital LP acquired a new position in shares of Dycom Industries in the 2nd quarter valued at $510,536,693. First Trust Advisors LP lifted its stake in shares of Dycom Industries by 27.8% in the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company's stock valued at $270,615,000 after purchasing an additional 173,528 shares during the period. Geode Capital Management LLC lifted its stake in shares of Dycom Industries by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company's stock valued at $245,771,000 after purchasing an additional 53,993 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Dycom Industries during the second quarter worth $270,174,000. 98.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DY has been the topic of several analyst reports. Wells Fargo & Company set a $476.00 price target on shares of Dycom Industries in a research report on Thursday, August 27th. Wall Street Zen lowered shares of Dycom Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 25th. Weiss Ratings cut Dycom Industries from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, August 31st. Wedbush set a $654.00 price target on Dycom Industries in a research note on Friday, May 29th. Finally, Zacks Research cut Dycom Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Dycom Industries has a consensus rating of "Moderate Buy" and a consensus target price of $502.42.

Dycom Industries Trading Up 1.8%

DY stock opened at $287.41 on Thursday. 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 $254.90 and a 12-month high of $566.47. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 0.49 and a beta of 1.49. The business's 50-day moving average is $373.82 and its 200 day moving average is $401.95.

Dycom Industries (NYSE:DY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 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 company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business earned $3.33 EPS. Dycom Industries's quarterly revenue was up 45.6% on a year-over-year basis. 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 EPS for the current fiscal year.

Dycom Industries announced that its board has initiated a share 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 reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Insider Activity at Dycom Industries

In other news, Director David Fallon acquired 700 shares of Dycom Industries stock in a transaction that occurred on Tuesday, September 1st. The stock was purchased at an average cost of $286.92 per share, with a total value of $200,844.00. Following the purchase, the director owned 1,043 shares in the company, valued at $299,257.56. This trade represents a 204.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.22% of the company's stock.

Dycom Industries Profile

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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