Dycom Amplifies Rural Broadband Service Via Bigham Deal; Plans New $150M Stock Buyback
Portfolio Pulse from Shivani Kumaresan
Dycom Industries has acquired Bigham Cable Construction, a company that provides telecommunications construction services in the southeastern U.S. The acquisition is expected to strengthen Dycom's customer base and expand its ability to address growth opportunities in rural broadband deployments. Additionally, Dycom's Board of Directors has authorized a new $150 million program to repurchase shares of outstanding common stock.

August 23, 2023 | 1:07 pm
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Dycom's acquisition of Bigham Cable Construction and the announcement of a $150 million stock buyback program could potentially boost investor confidence and drive the stock price up.
The acquisition of Bigham Cable Construction is likely to strengthen Dycom's customer base and expand its ability to address growth opportunities in rural broadband deployments, which could lead to increased revenues. Additionally, the announcement of a $150 million stock buyback program could boost investor confidence as it indicates that the company believes its stock is undervalued. Both these factors could potentially drive the stock price up.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100