Kestra Investment Management LLC Purchases New Holdings in Dycom Industries, Inc. $DY

Kestra Investment Management LLC acquired a new position in Dycom Industries, Inc. (NYSE:DY) in the third quarter, Holdings Channel reports. The firm acquired 4,016 shares of the construction company’s stock, valued at approximately $1,081,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in shares of Dycom Industries during the second quarter valued at $4,413,000. Royal Bank of Canada lifted its stake in Dycom Industries by 50.1% in the 1st quarter. Royal Bank of Canada now owns 22,327 shares of the construction company’s stock worth $7,566,000 after acquiring an additional 7,452 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in Dycom Industries in the 2nd quarter worth about $32,692,000. Bank of America Corp DE purchased a new stake in Dycom Industries in the 2nd quarter worth about $270,174,000. Finally, Corient Private Wealth LP boosted its position in Dycom Industries by 107.4% during the 2nd quarter. Corient Private Wealth LP now owns 16,864 shares of the construction company’s stock worth $8,526,000 after acquiring an additional 8,731 shares during the period. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dycom Industries

In other news, Director David Fallon bought 700 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were bought at an average cost of $286.92 per share, with a total value of $200,844.00. Following the transaction, the director directly owned 1,043 shares in the company, valued at approximately $299,257.56. This trade represents a 204.08% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carmen M. Sabater purchased 350 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The shares were purchased at an average cost of $280.62 per share, with a total value of $98,217.00. Following the completion of the purchase, the director directly owned 7,154 shares in the company, valued at approximately $2,007,555.48. This represents a 5.14% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

DY has been the topic of several research analyst reports. Wells Fargo & Company set a $476.00 target price on Dycom Industries in a research note on Thursday, August 27th. Weiss Ratings downgraded Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. UBS Group reissued a “buy” rating on shares of Dycom Industries in a research report on Thursday, September 17th. Guggenheim reissued a “buy” rating and issued a $620.00 price target on shares of Dycom Industries in a research report on Thursday, September 17th. Finally, Oppenheimer assumed coverage on shares of Dycom Industries in a report on Tuesday, October 27th. They set a “market perform” rating for the company. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $502.92.

Dycom Industries Trading Down 0.8%

Dycom Industries stock opened at $218.24 on Wednesday. Dycom Industries, Inc. has a 12 month low of $186.25 and a 12 month high of $566.47. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 1.35. The stock has a market cap of $6.58 billion, a P/E ratio of 19.86, a P/E/G ratio of 0.37 and a beta of 1.53. The company’s fifty day simple moving average is $262.24 and its 200-day simple moving average is $373.06.

Dycom Industries (NYSE:DY) last announced 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. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company earned $3.33 earnings per share. Dycom Industries’s quarterly revenue was up 45.6% compared to the same quarter last year. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, sell-side analysts forecast that Dycom Industries, Inc. will post 15.98 EPS for the current fiscal year.

Dycom Industries announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 26th that permits the company to repurchase $150 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 1.4% of its stock through open market purchases. Share repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Dycom Industries Profile

Dycom Industries, Inc. is a specialty contracting company that builds and maintains communications infrastructure. Its customers include telecommunications providers, cable operators and utilities, primarily in the United States. The company provides engineering, design, construction, installation and maintenance services for broadband networks. Its work includes fiber-optic and other wireline systems, wireless infrastructure, and aerial and underground network construction. Founded in 1969, Dycom supports customers as they expand, upgrade and maintain their communications networks.