Dycom Industries, Inc. $DY Stock Sold by Brookstone Capital Management

Key Points

• Brookstone Capital Management cut its Dycom Industries position by 86.6% in the third quarter, selling 6,662 shares and retaining 1,030 shares valued at approximately $277,000. Institutional investors collectively own 98.33% of the company.
• Analysts maintain a generally positive view, with 10 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $502.92.
• Dycom recently exceeded quarterly earnings and revenue expectations, while its board authorized a $150 million share-repurchase program; two directors also purchased company shares.

Brookstone Capital Management reduced its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 86.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,030 shares of the construction company's stock after selling 6,662 shares during the period. Brookstone Capital Management's holdings in Dycom Industries were worth $277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Root Financial Partners LLC acquired a new position in shares of Dycom Industries in the third quarter worth $31,000. Crossmark Global Holdings Inc. boosted its stake in Dycom Industries by 12.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,343 shares of the construction company's stock valued at $630,000 after purchasing an additional 256 shares during the period. IFP Advisors Inc grew its holdings in Dycom Industries by 37.1% in the 3rd quarter. IFP Advisors Inc now owns 577 shares of the construction company's stock valued at $155,000 after buying an additional 156 shares during the last quarter. Elevated Financial Group LLC boosted its holdings in Dycom Industries by 18.5% in the 3rd quarter. Elevated Financial Group LLC now owns 1,423 shares of the construction company's stock valued at $383,000 after purchasing an additional 222 shares during the period. Finally, Counterpoint Mutual Funds LLC grew its position in Dycom Industries by 36.7% during the third quarter. Counterpoint Mutual Funds LLC now owns 2,265 shares of the construction company's stock worth $609,000 after buying an additional 608 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on DY. Guggenheim restated a "buy" rating and set a $620.00 price objective on shares of Dycom Industries in a research report on Thursday, September 17th. Weiss Ratings cut shares of Dycom Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, September 18th. JPMorgan Chase & Co. decreased their price objective on Dycom Industries from $650.00 to $570.00 and set an "overweight" rating on the stock in a report on Thursday, August 27th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $476.00 price objective on shares of Dycom Industries in a research note on Friday, October 9th. Finally, Wells Fargo & Company set a $476.00 target price on Dycom Industries in a report on Thursday, August 27th. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $502.92.

Insider Activity

In other Dycom Industries news, Director Carmen Sabater bought 350 shares of the stock in a transaction on Wednesday, September 23rd. The stock was purchased at an average price of $280.62 per share, with a total value of $98,217.00. Following the completion of the purchase, the director owned 7,154 shares in the company, valued at $2,007,555.48. The trade was a 5.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Fallon bought 700 shares of the company's stock in a transaction on Tuesday, September 1st. The stock was purchased at an average price of $286.92 per share, with a total value of $200,844.00. Following the completion of the transaction, the director directly owned 1,043 shares of the company's stock, valued at approximately $299,257.56. The trade was 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 company insiders.

Dycom Industries Stock Down 5.1%

Dycom Industries stock opened at $227.42 on Friday. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 0.41 and a beta of 1.50. The company's 50 day simple moving average is $278.94 and its 200 day simple moving average is $378.40. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.35 and a quick ratio of 2.24. Dycom Industries, Inc. has a fifty-two week low of $215.28 and a fifty-two week high of $566.47.

Dycom Industries (NYSE:DY - Get Free Report) last posted its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.72 by $0.57. The business 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%. Dycom Industries's revenue for the quarter was up 45.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, sell-side analysts anticipate that Dycom Industries, Inc. will post 15.98 EPS for the current year.

Dycom Industries declared that its board has authorized a stock buyback program on Wednesday, August 26th that allows the company to buy back $150 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 1.4% of its shares through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

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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