VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Shares in Dycom Industries, Inc. $DY

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Dycom Industries, Inc. (NYSE:DY) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 5,010 shares of the construction company’s stock, valued at approximately $1,693,000.

Several other institutional investors have also added to or reduced their stakes in DY. Nordea Investment Management AB lifted its position in shares of Dycom Industries by 5,603.6% during the 4th quarter. Nordea Investment Management AB now owns 405,580 shares of the construction company’s stock valued at $139,057,000 after acquiring an additional 398,469 shares during the period. Millennium Management LLC lifted its position in shares of Dycom Industries by 21.0% during the 3rd quarter. Millennium Management LLC now owns 1,324,938 shares of the construction company’s stock valued at $386,564,000 after acquiring an additional 229,579 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Dycom Industries during the 3rd quarter valued at $44,553,000. Bornite Capital Management LP bought a new stake in shares of Dycom Industries during the 3rd quarter valued at $43,764,000. Finally, Cartenna Capital LP bought a new stake in shares of Dycom Industries during the 3rd quarter valued at $40,846,000. 98.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $436.00 target price on shares of Dycom Industries in a research report on Friday, March 27th. Wall Street Zen downgraded Dycom Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. KeyCorp upped their target price on Dycom Industries from $426.00 to $482.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. UBS Group set a $475.00 price target on Dycom Industries and gave the stock a “buy” rating in a report on Friday, March 6th. Finally, Zacks Research raised Dycom Industries from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Dycom Industries has a consensus rating of “Buy” and a consensus target price of $431.64.

Dycom Industries Price Performance

Shares of DY opened at $437.25 on Friday. Dycom Industries, Inc. has a 12-month low of $190.00 and a 12-month high of $464.82. The business has a 50-day simple moving average of $384.37 and a two-hundred day simple moving average of $365.34. The company has a quick ratio of 2.61, a current ratio of 2.74 and a debt-to-equity ratio of 1.51. The stock has a market cap of $13.13 billion, a PE ratio of 45.55, a PEG ratio of 1.04 and a beta of 1.46.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, March 4th. The construction company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.12. Dycom Industries had a return on equity of 21.77% and a net margin of 5.07%.The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the company posted $1.17 EPS. The business’s revenue was up 34.4% on a year-over-year basis. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. Analysts anticipate that Dycom Industries, Inc. will post 12.88 earnings per share for the current fiscal year.

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.