David Joseph Fallon Acquires 700 Shares of Dycom Industries (NYSE:DY) Stock

Key Points

• Director David Joseph Fallon purchased 700 Dycom shares at an average price of $286.92, investing $200,844 and increasing his direct stake by 204.08% to 1,043 shares.
• Dycom reported quarterly results above expectations, with earnings per share 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-repurchase program, while analysts maintain a “Moderate Buy” consensus and an average price target of $514.

Dycom Industries, Inc. (NYSE:DY - Get Free Report) Director David Joseph Fallon acquired 700 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was purchased at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the completion of the purchase, the director directly owned 1,043 shares in the company, valued at $299,257.56. This trade represents a 204.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Dycom Industries Stock Performance

NYSE DY traded down $4.67 during trading on Tuesday, hitting $286.54. 605,341 shares of the company's stock traded hands, compared to its average volume of 495,495. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.35. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 0.52 and a beta of 1.54. Dycom Industries, Inc. has a 12-month low of $242.55 and a 12-month high of $566.47. The business has a 50 day moving average of $414.44 and a 200-day moving average of $412.87.

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, topping the consensus estimate of $4.72 by $0.57. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the company earned $3.33 earnings per share. The company's revenue was up 45.6% on a year-over-year basis. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, equities research analysts anticipate that Dycom Industries, Inc. will post 15.44 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Cantor Fitzgerald cut their price target on Dycom Industries from $654.00 to $476.00 and set an "overweight" rating for the company in a report on Thursday, August 27th. Wedbush set a $654.00 price objective on Dycom Industries in a research note on Friday, May 29th. KeyCorp dropped their price objective on Dycom Industries from $610.00 to $423.00 and set an "overweight" rating on the stock in a report on Thursday, August 27th. Guggenheim raised their target price on Dycom Industries from $575.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Finally, Zacks Research lowered Dycom Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $514.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Corient Private Wealth LP increased its holdings in shares of Dycom Industries by 107.4% in the second quarter. Corient Private Wealth LP now owns 16,864 shares of the construction company's stock worth $8,526,000 after purchasing an additional 8,731 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Dycom Industries during the second quarter valued at $2,755,000. California State Teachers Retirement System grew its position in Dycom Industries by 51,902.4% during the second quarter. California State Teachers Retirement System now owns 17,614,250 shares of the construction company's stock worth $8,905,589,000 after buying an additional 17,580,378 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in Dycom Industries during the second quarter worth about $383,000. Finally, TD Waterhouse Canada Inc. increased its stake in Dycom Industries by 4.5% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 20,549 shares of the construction company's stock worth $9,674,000 after acquiring an additional 880 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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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