Public Employees Retirement System of Ohio Invests $4.41 Million in Dycom Industries, Inc. $DY

Key Points

• Public Employees Retirement System of Ohio bought 8,729 Dycom Industries shares valued at approximately $4.41 million during the second quarter. Institutional investors collectively own 98.33% of the company.
• Dycom reported quarterly EPS of $5.29, exceeding estimates of $4.72, while revenue rose 45.6% year over year to $2.01 billion. The board also authorized a $150 million stock-repurchase program.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and one Hold rating; the stock has a consensus “Moderate Buy” rating and an average price target of $514.

Public Employees Retirement System of Ohio purchased a new stake in Dycom Industries, Inc. (NYSE:DY - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,729 shares of the construction company's stock, valued at approximately $4,413,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DY. Capstone Investment Advisors LLC purchased a new stake in Dycom Industries during the 2nd quarter worth approximately $578,000. Payne Capital Management LLC purchased a new position in shares of Dycom Industries in the second quarter valued at approximately $314,000. Corient Private Wealth LP acquired a new stake in shares of Dycom Industries in the second quarter worth approximately $8,541,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Dycom Industries in the second quarter worth approximately $845,000. Finally, Bank of America Corp DE purchased a new stake in shares of Dycom Industries during the second quarter worth approximately $270,174,000. Hedge funds and other institutional investors own 98.33% of the company's stock.

Insider Activity

In other news, Director David Joseph Fallon purchased 700 shares of the business'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 directly owned 1,043 shares of the company's stock, valued at approximately $299,257.56. This represents a 204.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is owned by corporate insiders.

Dycom Industries Trading Up 3.3%

Shares of DY stock opened at $296.88 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 twelve month low of $243.80 and a twelve month high of $566.47. The company's 50-day moving average price is $407.07 and its 200-day moving average price is $411.02. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 0.50 and a beta of 1.49.

Dycom Industries (NYSE:DY - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.72 by $0.57. The firm had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. Dycom Industries's revenue was up 45.6% compared to the same quarter last year. During the same period last year, the business earned $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, equities analysts predict that Dycom Industries, Inc. will post 15.63 earnings per share for the current year.

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

Analyst Ratings Changes

DY has been the subject of several recent research reports. Wall Street Zen downgraded Dycom Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 25th. Wells Fargo & Company set a $476.00 target price on shares of Dycom Industries in a research report on Thursday, August 27th. B. Riley Financial boosted their price target on shares of Dycom Industries from $485.00 to $625.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. UBS Group dropped their price objective on shares of Dycom Industries from $611.00 to $525.00 and set a "buy" rating for the company in a research note on Thursday, August 27th. Finally, Cantor Fitzgerald cut their price objective on shares of Dycom Industries from $654.00 to $476.00 and set an "overweight" rating for the company in a report 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 MarketBeat.com, Dycom Industries has an average rating of "Moderate Buy" and an average price target of $514.00.

Dycom Industries Company Profile

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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