Norges Bank Invests $19.34 Million in Dycom Industries, Inc. $DY

Norges Bank acquired a new position in Dycom Industries, Inc. (NYSE:DY) in the 4th quarter, Holdings Channel reports. The firm acquired 57,222 shares of the construction company’s stock, valued at approximately $19,335,000.

Several other large investors also recently made changes to their positions in DY. Optiver Holding B.V. increased its position in shares of Dycom Industries by 57.1% in the third quarter. Optiver Holding B.V. now owns 110 shares of the construction company’s stock worth $32,000 after acquiring an additional 40 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Dycom Industries in the fourth quarter valued at $32,000. CI Investments Inc. boosted its stake in shares of Dycom Industries by 259.4% in the third quarter. CI Investments Inc. now owns 115 shares of the construction company’s stock valued at $34,000 after purchasing an additional 83 shares during the period. Legacy Wealth Managment LLC ID purchased a new position in shares of Dycom Industries in the fourth quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Dycom Industries by 73.1% in the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.

Wall Street Analysts Forecast Growth

DY has been the subject of several analyst reports. B. Riley Financial upped their target price 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. Cantor Fitzgerald upped their target price on shares of Dycom Industries from $436.00 to $654.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. KeyCorp upped their target price on shares of Dycom Industries from $482.00 to $610.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Wells Fargo & Company upped their target price on shares of Dycom Industries from $500.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Finally, UBS Group restated a “buy” rating and issued a $611.00 target price on shares of Dycom Industries in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $554.92.

Dycom Industries Trading Down 1.0%

NYSE DY opened at $454.07 on Wednesday. Dycom Industries, Inc. has a 12 month low of $229.97 and a 12 month high of $566.47. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.58 and a quick ratio of 2.46. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of 43.20, a price-to-earnings-growth ratio of 0.86 and a beta of 1.49. The company’s fifty day moving average price is $420.23 and its two-hundred day moving average price is $386.09.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, May 27th. The construction company reported $4.42 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $1.69. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.67 billion. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. The firm’s revenue was up 56.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 EPS. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. As a group, research analysts predict that Dycom Industries, Inc. will post 14.54 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.