Tribune Investment Group LP Makes New Investment in Dycom Industries, Inc. $DY

Key Points

• Tribune Investment Group initiated a roughly $2.95 million position in Dycom Industries during the second quarter, while institutional investors and hedge funds collectively own 98.33% of the stock.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $502.42.
• Dycom exceeded quarterly earnings and revenue estimates, with revenue rising 45.6% year over year, and authorized a $150 million share-repurchase program covering up to 1.4% of outstanding shares.

Tribune Investment Group LP bought a new stake in Dycom Industries, Inc. (NYSE:DY - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,830 shares of the construction company's stock, valued at approximately $2,948,000. Dycom Industries makes up approximately 1.2% of Tribune Investment Group LP's holdings, making the stock its 29th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in DY. Sanctuary Advisors LLC bought a new stake in shares of Dycom Industries during the 2nd quarter worth approximately $416,000. Neumeier Poma Investment Counsel LLC bought a new position in Dycom Industries in the second quarter valued at approximately $60,992,355. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Dycom Industries during the second quarter valued at approximately $25,003,000. PEAK6 LLC acquired a new position in Dycom Industries during the second quarter valued at approximately $1,011,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new stake in Dycom Industries during the second quarter worth $349,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DY has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on Dycom Industries from $650.00 to $570.00 and set an "overweight" rating on the stock in a research note on Thursday, August 27th. Zacks Research downgraded Dycom Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Cantor Fitzgerald reduced their price objective on Dycom Industries from $654.00 to $476.00 and set an "overweight" rating on the stock in a research note on Thursday, August 27th. B. Riley Financial lifted their target price on Dycom Industries from $485.00 to $625.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Finally, KeyCorp lowered their target price on Dycom Industries from $610.00 to $423.00 and set an "overweight" rating for the company in a research note on Thursday, August 27th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $502.42.

Insider Buying and Selling

In other news, Director David Fallon purchased 700 shares of the business's 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 owned 1,043 shares of the company's stock, valued at $299,257.56. This trade represents a 204.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.22% of the company's stock.

Dycom Industries Stock Down 0.8%

Shares of NYSE:DY opened at $294.46 on Friday. The company has a fifty day moving average of $403.13 and a 200-day moving average of $410.08. The company has a market capitalization of $8.88 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 0.52 and a beta of 1.49. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.35. Dycom Industries, Inc. has a 52-week low of $243.80 and a 52-week high of $566.47.

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 for the quarter, beating the consensus estimate of $4.72 by $0.57. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.98 billion. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.Dycom Industries's revenue for the quarter was up 45.6% on a year-over-year basis. During the same quarter last year, the business posted $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities analysts predict that Dycom Industries, Inc. will post 15.63 EPS for the current fiscal year.

Dycom Industries declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

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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