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

The Manufacturers Life Insurance Company bought a new stake in shares of Dycom Industries, Inc. (NYSE:DY) in the second quarter, Holdings Channel reports. The institutional investor bought 25,686 shares of the construction company’s stock, valued at approximately $12,987,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DY. Wilson Asset Management International PTY Ltd. acquired a new position in shares of Dycom Industries during the 4th quarter worth about $1,014,000. Norges Bank bought a new stake in shares of Dycom Industries during the fourth quarter worth $19,335,000. Horizon Investments LLC increased its position in shares of Dycom Industries by 43.0% during the fourth quarter. Horizon Investments LLC now owns 16,907 shares of the construction company’s stock worth $5,713,000 after acquiring an additional 5,086 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Dycom Industries by 50.1% during the first 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 during the period. Finally, Hillsdale Investment Management Inc. raised its holdings in shares of Dycom Industries by 82,666.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 24,830 shares of the construction company’s stock worth $8,390,000 after acquiring an additional 24,800 shares during the period. 98.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DY shares. JPMorgan Chase & Co. decreased their price target 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. KeyCorp cut their price objective on shares of Dycom Industries from $610.00 to $423.00 and set an “overweight” rating on the stock in a research report on Thursday. Wall Street Zen cut shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings raised shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Finally, B. Riley Financial lifted their price target 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 issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $514.00.

Dycom Industries Stock Down 4.2%

DY stock opened at $295.11 on Friday. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 0.54 and a beta of 1.54. Dycom Industries, Inc. has a twelve month low of $242.55 and a twelve month high of $566.47. The business has a 50 day moving average price of $418.01 and a two-hundred day moving average price of $413.73. The company has a quick ratio of 2.46, a current ratio of 2.35 and a debt-to-equity ratio of 1.35.

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 analysts’ consensus estimates of $4.72 by $0.57. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The business’s revenue was up 45.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. 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 approved a share repurchase plan on Wednesday, August 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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

Dycom Industries 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.