The Manufacturers Life Insurance Company Invests $12.99 Million in Dycom Industries, Inc. $DY

Key Points

• The Manufacturers Life Insurance Company acquired 25,686 Dycom shares worth approximately $12.99 million, joining other institutional investors that collectively own 98.33% of the company.
• Dycom reported a strong quarter, with EPS of $5.29 beating estimates of $4.72 and revenue of $2.01 billion rising 45.6% year over year. Demand was supported by communications infrastructure, fiber networks and digital infrastructure.
• The board authorized a $150 million share buyback, but fiscal third-quarter EPS guidance of $4.33–$4.79 fell below expectations and analysts reduced some price targets. Despite this, the stock retains a “Moderate Buy” consensus rating with an average target of $514.

The Manufacturers Life Insurance Company acquired a new stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 25,686 shares of the construction company's stock, valued at approximately $12,987,000. The Manufacturers Life Insurance Company owned approximately 0.09% of Dycom Industries as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. &PARTNERS raised its stake in Dycom Industries by 2.5% during the 4th quarter. &PARTNERS now owns 1,053 shares of the construction company's stock worth $356,000 after acquiring an additional 26 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Dycom Industries by 17.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 203 shares of the construction company's stock worth $69,000 after purchasing an additional 30 shares during the period. Legacy Wealth Managment LLC ID boosted its position in shares of Dycom Industries by 30.4% in the first quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company's stock worth $51,000 after purchasing an additional 35 shares during the period. Osaic Holdings Inc. increased its stake in shares of Dycom Industries by 1.7% in the fourth quarter. Osaic Holdings Inc. now owns 2,062 shares of the construction company's stock worth $697,000 after purchasing an additional 35 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of Dycom Industries by 4.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 943 shares of the construction company's stock valued at $320,000 after purchasing an additional 36 shares during the period. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Price Performance

DY stock opened at $295.11 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.46 and a current ratio of 2.35. The company's fifty day moving average price is $418.01 and its 200-day moving average price is $413.73. Dycom Industries, Inc. has a one year low of $242.55 and a one year high of $566.47. The company has a market capitalization of $8.86 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 0.54 and a beta of 1.54.

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 for the quarter, beating the consensus estimate of $4.72 by $0.57. The company 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 quarterly revenue was up 45.6% on a year-over-year basis. During the same period last year, the company posted $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities analysts anticipate that Dycom Industries, Inc. will post 15.44 EPS for the current fiscal year.

Dycom Industries announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Dycom Industries from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 13th. Zacks Research lowered Dycom Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Wells Fargo & Company set a $476.00 price target on Dycom Industries in a report 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, KeyCorp dropped their price objective on Dycom Industries from $610.00 to $423.00 and set an "overweight" rating for the company in a research note on Thursday. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $514.00.

Key Stories Impacting 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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source