New Millennium Group LLC Invests $2.26 Million in Dycom Industries, Inc. $DY

New Millennium Group LLC purchased a new position in Dycom Industries, Inc. (NYSE:DY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,701 shares of the construction company’s stock, valued at approximately $2,264,000. Dycom Industries accounts for approximately 1.0% of New Millennium Group LLC’s portfolio, making the stock its 27th largest position.

A number of other large investors have also recently made changes to their positions in the stock. Americana Partners LLC bought a new stake in Dycom Industries during the fourth quarter valued at $230,000. Legato Capital Management LLC lifted its stake in Dycom Industries by 45.7% during the fourth quarter. Legato Capital Management LLC now owns 5,450 shares of the construction company’s stock worth $1,842,000 after purchasing an additional 1,710 shares during the last quarter. Axxcess Wealth Management LLC bought a new stake in Dycom Industries during the fourth quarter worth about $2,332,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in Dycom Industries during the fourth quarter worth about $224,000. Finally, IFP Advisors Inc lifted its stake in Dycom Industries by 2,258.9% during the fourth quarter. IFP Advisors Inc now owns 3,326 shares of the construction company’s stock worth $1,124,000 after purchasing an additional 3,185 shares during the last quarter. 98.33% of the stock is owned by institutional investors.

Dycom Industries Stock Down 0.4%

DY opened at $412.73 on Friday. The company has a market cap of $12.39 billion, a P/E ratio of 42.99, a P/E/G ratio of 0.95 and a beta of 1.46. The business’s 50-day moving average price is $389.47 and its 200-day moving average price is $369.82. The company has a current ratio of 2.74, a quick ratio of 2.61 and a debt-to-equity ratio of 1.51. Dycom Industries, Inc. has a 12 month low of $220.60 and a 12 month high of $464.82.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, March 4th. The construction company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.91 by $0.12. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.34 billion. Dycom Industries had a return on equity of 21.77% and a net margin of 5.07%.The company’s quarterly revenue was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. On average, equities analysts expect that Dycom Industries, Inc. will post 12.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Bank of America lifted their price target on Dycom Industries from $365.00 to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $436.00 price target on shares of Dycom Industries in a research note on Friday, March 27th. Weiss Ratings lowered Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. UBS Group set a $475.00 price objective on Dycom Industries and gave the stock a “buy” rating in a report on Friday, March 6th. Finally, KeyCorp lifted their price objective on Dycom Industries from $426.00 to $482.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Dycom Industries presently has an average rating of “Buy” and a consensus target price of $431.64.

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.