Engineers Gate Manager LP Trims Stake in Dycom Industries, Inc. $DY

Key Points

• Engineers Gate Manager LP cut its Dycom Industries stake by 47.6% during the second quarter, selling 8,864 shares and retaining 9,739 shares valued at approximately $4.9 million. Institutional investors collectively own 98.33% of the company.
• Analysts maintain a “Moderate Buy” consensus, with 11 Buy ratings and one Hold, despite several price-target reductions; the consensus target is $502.42 versus a recent share price of $308.
• Dycom exceeded quarterly expectations with $5.29 in EPS and $2.01 billion in revenue, up 45.6% year over year, and authorized a $150 million share buyback covering up to 1.4% of outstanding shares.

Engineers Gate Manager LP lessened its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 47.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,739 shares of the construction company's stock after selling 8,864 shares during the period. Engineers Gate Manager LP's holdings in Dycom Industries were worth $4,924,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DY. Allworth Financial LP bought a new stake in shares of Dycom Industries during the second quarter valued at approximately $35,000. Kemnay Advisory Services Inc. acquired a new stake in Dycom Industries in the fourth quarter valued at approximately $30,000. Harbor Investment Advisory LLC acquired a new position in shares of Dycom Industries during the second quarter valued at about $52,000. Acumen Wealth Advisors LLC acquired a new position in shares of Dycom Industries in the fourth quarter valued at about $35,000. Finally, Continuum Advisory LLC purchased a new stake in shares of Dycom Industries in the 2nd quarter valued at $59,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dycom Industries

In other news, Director David Fallon bought 700 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was acquired at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the acquisition, the director owned 1,043 shares of the company's stock, valued at $299,257.56. This trade represents a 204.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DY shares. UBS Group dropped their price objective on shares of Dycom Industries from $611.00 to $525.00 and set a "buy" rating on the stock in a research note on Thursday, August 27th. JPMorgan Chase & Co. reduced their price target on shares of Dycom Industries from $650.00 to $570.00 and set an "overweight" rating on the stock in a research report on Thursday, August 27th. Wedbush set a $654.00 price target on shares of Dycom Industries in a research note on Friday, May 29th. Raymond James Financial set a $375.00 price target on shares of Dycom Industries in a report on Thursday, September 3rd. Finally, Guggenheim boosted their price target on shares of Dycom Industries from $575.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $502.42.

Dycom Industries Trading Up 4.1%

Shares of DY opened at $308.00 on Friday. The stock has a market cap of $9.29 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 0.54 and a beta of 1.49. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.35 and a quick ratio of 2.24. The firm has a 50 day simple moving average of $382.11 and a 200-day simple moving average of $405.00. Dycom Industries, Inc. has a 1-year low of $250.82 and a 1-year high of $566.47.

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

Dycom Industries announced that its Board of Directors has initiated a share buyback program on Wednesday, August 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Dycom Industries Company 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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