Legal & General Group Plc Makes New $20.15 Million Investment in Dycom Industries, Inc. $DY

Legal & General Group Plc bought a new position in Dycom Industries, Inc. (NYSE:DY) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 39,848 shares of the construction company’s stock, valued at approximately $20,147,000.

Several other hedge funds have also recently made changes to their positions in DY. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Dycom Industries by 265,593,055.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock valued at $8,076,953,000 after acquiring an additional 23,903,375 shares during the last quarter. Peconic Partners LLC increased its stake in Dycom Industries by 2.8% during the second quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company’s stock worth $933,038,000 after acquiring an additional 105,586 shares during the last quarter. BlackRock Inc. bought a new stake in Dycom Industries during the second quarter worth approximately $1,513,523,000. Hill City Capital LP purchased a new stake in Dycom Industries during the second quarter valued at approximately $510,536,693. Finally, First Trust Advisors LP lifted its stake in shares of Dycom Industries by 27.8% in the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock valued at $270,615,000 after purchasing an additional 173,528 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DY. Guggenheim lifted their target price on Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wedbush set a $654.00 price target on Dycom Industries in a research report on Friday, May 29th. JPMorgan Chase & Co. dropped their price objective on shares of Dycom Industries from $650.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday. Cantor Fitzgerald cut their price objective on shares of Dycom Industries from $654.00 to $476.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, B. Riley Financial increased their target price on shares of Dycom Industries from $485.00 to $625.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $514.00.

Dycom Industries Price Performance

Shares of DY stock opened at $295.11 on Friday. The stock has a 50 day moving average price of $418.01 and a 200 day moving average price of $413.73. Dycom Industries, Inc. has a 52-week low of $242.55 and a 52-week high of $566.47. 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 firm has a market capitalization of $8.86 billion, a P/E ratio of 26.85, a P/E/G ratio of 0.52 and a beta of 1.54.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, beating 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 company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the company posted $3.33 EPS. Dycom Industries’s quarterly 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, sell-side analysts predict that Dycom Industries, Inc. will post 15.44 earnings per share for the current year.

Dycom Industries announced that its board has initiated a stock repurchase plan on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Key Dycom Industries News

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

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.