Man Group plc Makes New $2.36 Million Investment in Dycom Industries, Inc. $DY

Key Points

• Man Group plc initiated a $2.36 million position in Dycom Industries during the second quarter, buying 4,668 shares. Institutional investors collectively own 98.33% of Dycom’s outstanding stock.
• Dycom reported stronger-than-expected quarterly results, with EPS of $5.29 versus the $4.72 consensus estimate and revenue of $2.01 billion, up 45.6% year over year.
• The company authorized a $150 million share buyback, while analysts maintain a “Moderate Buy” consensus and an average price target of $514, despite recent target-price reductions.

Man Group plc bought a new stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,668 shares of the construction company's stock, valued at approximately $2,360,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP purchased a new position in shares of Dycom Industries in the second quarter worth approximately $35,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Dycom Industries in the 4th quarter worth $30,000. Harbor Investment Advisory LLC purchased a new stake in shares of Dycom Industries in the 2nd quarter worth $52,000. Acumen Wealth Advisors LLC purchased a new position in Dycom Industries during the fourth quarter valued at $35,000. Finally, Legacy Wealth Managment LLC ID bought a new stake in Dycom Industries during the fourth quarter valued at about $39,000. 98.33% of the stock is owned by institutional investors.

Dycom Industries Stock Down 1.6%

DY stock opened at $286.54 on Wednesday. The company has a market capitalization of $8.64 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 0.51 and a beta of 1.49. The firm's fifty day simple moving average is $410.80 and its 200-day simple moving average is $411.86. Dycom Industries, Inc. has a 12 month low of $242.55 and a 12 month high of $566.47. 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 (NYSE:DY - Get Free Report) last released 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 business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the firm posted $3.33 EPS. The business's quarterly 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. As a group, equities research analysts forecast that Dycom Industries, Inc. will post 15.63 earnings per share for the current year.

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

Insider Transactions at Dycom Industries

In other news, Director David Joseph Fallon purchased 700 shares of the stock in a transaction dated Tuesday, September 1st. The shares were purchased at an average cost of $286.92 per share, with a total value of $200,844.00. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.22% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wedbush set a $654.00 price objective on shares of Dycom Industries in a report on Friday, May 29th. UBS Group cut their target price on shares of Dycom Industries from $611.00 to $525.00 and set a "buy" rating for the company in a report on Thursday, August 27th. Zacks Research lowered shares of Dycom Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Weiss Ratings cut shares of Dycom Industries from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday. Finally, KeyCorp dropped their target price on shares of Dycom Industries from $610.00 to $423.00 and set an "overweight" rating on the stock in a research note on Thursday, August 27th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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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