OVERSEA CHINESE BANKING Corp Ltd Sells 18,958 Shares of Dycom Industries, Inc. $DY

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 48.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,862 shares of the construction company’s stock after selling 18,958 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned 0.07% of Dycom Industries worth $5,798,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Peconic Partners LLC lifted its stake in Dycom Industries by 2.8% in the second quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company’s stock worth $933,038,000 after purchasing an additional 105,586 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Dycom Industries by 4.8% in the 2nd quarter. Bank of America Corp DE now owns 307,545 shares of the construction company’s stock valued at $75,161,000 after acquiring an additional 14,147 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Dycom Industries by 92.6% during the 3rd quarter. Voya Investment Management LLC now owns 237,576 shares of the construction company’s stock valued at $69,315,000 after acquiring an additional 114,235 shares during the period. Invesco Ltd. grew its position in Dycom Industries by 7.0% during the 2nd quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock worth $55,508,000 after acquiring an additional 14,891 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Dycom Industries by 19.9% during the 2nd quarter. Franklin Resources Inc. now owns 213,137 shares of the construction company’s stock worth $52,089,000 after acquiring an additional 35,323 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Analysts Set New Price Targets

DY has been the subject of a number of analyst reports. B. Riley increased their price objective on Dycom Industries from $320.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Vertical Research initiated coverage on shares of Dycom Industries in a report on Tuesday, December 23rd. They issued a “buy” rating and a $420.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Dycom Industries in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Dycom Industries from $275.00 to $370.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Finally, Wall Street Zen upgraded Dycom Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 23rd. Two equities research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $379.67.

Insider Buying and Selling at Dycom Industries

In related news, Director Eitan Gertel sold 3,645 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $345.62, for a total transaction of $1,259,784.90. Following the sale, the director directly owned 15,997 shares of the company’s stock, valued at $5,528,883.14. This trade represents a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.72% of the stock is owned by corporate insiders.

Dycom Industries Price Performance

DY opened at $353.46 on Thursday. The firm has a market cap of $10.24 billion, a PE ratio of 34.79, a P/E/G ratio of 1.84 and a beta of 1.34. The stock has a 50-day moving average price of $336.86 and a 200-day moving average price of $293.04. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $366.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.09 and a quick ratio of 2.90.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, November 19th. The construction company reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.48. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.41 billion. Dycom Industries had a net margin of 5.75% and a return on equity of 22.21%. The business’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.68 earnings per share. Dycom Industries has set its Q4 2026 guidance at 1.620-1.970 EPS. Sell-side analysts predict that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Dycom Industries Company 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.