Legal & General Group Plc Invests $20.15 Million in Dycom Industries, Inc. $DY

Key Points

• Legal & General Group Plc bought 39,848 Dycom shares valued at approximately $20.15 million, giving it a 0.13% stake. Institutional investors collectively own 98.33% of Dycom’s outstanding stock.
• Dycom’s second-quarter results exceeded expectations, with EPS of $5.29 versus $4.72 expected and revenue of $2.01 billion, up 45.6% year over year. Management also raised its fiscal 2027 revenue outlook, citing strong fiber, data-center connectivity and Building Systems demand.
• Despite the strong quarter, shares fell 4.2% as third-quarter EPS guidance of $4.33–$4.79 came in below expectations and the company disclosed a $150 million wireless-revenue deferral. Dycom authorized a $150 million share-repurchase program, covering up to 1.4% of outstanding shares.

Legal & General Group Plc purchased a new stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 39,848 shares of the construction company's stock, valued at approximately $20,147,000. Legal & General Group Plc owned 0.13% of Dycom Industries as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in DY. Northwestern Mutual Wealth Management Co. lifted its position in shares of Dycom Industries by 265,593,055.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company's stock valued at $8,076,953,000 after buying an additional 23,903,375 shares in the last quarter. BlackRock Inc. purchased a new stake in Dycom Industries in the 2nd quarter worth approximately $1,513,523,000. Hill City Capital LP bought a new stake in Dycom Industries during the 2nd quarter worth approximately $510,536,693. Bank of New York Mellon Corp purchased a new position in Dycom Industries during the second quarter valued at approximately $90,216,000. Finally, First Trust Advisors LP lifted its holdings in Dycom Industries by 27.8% during the first 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 in the last quarter. Institutional investors own 98.33% of the company's stock.

Trending Headlines about Dycom Industries

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

Dycom Industries Trading Down 4.2%

Shares of Dycom Industries stock opened at $295.11 on Friday. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 0.52 and a beta of 1.54. The business has a 50-day moving average price of $418.01 and a 200-day moving average price of $413.73. The company has a quick ratio of 2.46, a current ratio of 2.35 and a debt-to-equity ratio of 1.35. Dycom Industries, Inc. has a twelve month low of $242.55 and a twelve month 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 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the business earned $3.33 earnings per share. The firm's revenue for the quarter was up 45.6% on a year-over-year basis. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Equities research analysts anticipate that Dycom Industries, Inc. will post 15.44 EPS for the current fiscal year.

Dycom Industries declared that its board has approved a share repurchase plan on Wednesday, August 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to purchase up to 1.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DY shares. Guggenheim increased their price objective on shares of Dycom Industries from $575.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Weiss Ratings raised shares of Dycom Industries from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 13th. KeyCorp cut their price target on Dycom Industries from $610.00 to $423.00 and set an "overweight" rating for the company in a research note on Thursday. Wall Street Zen downgraded Dycom Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Finally, Cantor Fitzgerald dropped their price target on Dycom Industries from $654.00 to $476.00 and set an "overweight" rating for the company in a research note on Thursday. Eleven equities research 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 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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