Millennium Management LLC Sells 351,758 Shares of Dycom Industries, Inc. $DY

Millennium Management LLC reduced its position in shares of Dycom Industries, Inc. (NYSE:DY) by 26.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 973,180 shares of the construction company’s stock after selling 351,758 shares during the quarter. Millennium Management LLC owned 3.36% of Dycom Industries worth $328,838,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of DY. Jones Financial Companies Lllp increased its stake in Dycom Industries by 4,626.1% during the 1st quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock valued at $331,000 after purchasing an additional 2,128 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Dycom Industries by 7.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock valued at $10,622,000 after purchasing an additional 4,985 shares in the last quarter. Invesco Ltd. increased its stake in Dycom Industries by 7.0% during the 2nd quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock valued at $55,508,000 after purchasing an additional 14,891 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Dycom Industries by 73.1% during the 2nd 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 in the last quarter. Finally, Cerity Partners LLC increased its stake in Dycom Industries by 8.9% during the 2nd quarter. Cerity Partners LLC now owns 2,239 shares of the construction company’s stock valued at $547,000 after purchasing an additional 183 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DY. KeyCorp raised their price objective 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 lifted their price objective on Dycom Industries from $500.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Wedbush set a $654.00 price objective on Dycom Industries in a report on Friday, May 29th. Bank of America lifted their price objective on Dycom Industries from $365.00 to $475.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, Wall Street Zen upgraded Dycom Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. Two analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $554.92.

Dycom Industries Price Performance

NYSE DY opened at $461.87 on Thursday. Dycom Industries, Inc. has a one year low of $229.97 and a one year high of $566.47. The stock has a 50-day moving average of $434.81 and a 200 day moving average of $391.28. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 43.95, a PEG ratio of 0.88 and a beta of 1.49. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.46 and a current ratio of 2.58.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, May 27th. The construction company reported $4.42 EPS for the quarter, topping the consensus estimate of $2.73 by $1.69. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned $2.09 EPS. Dycom Industries’s revenue for the quarter was up 56.1% on a year-over-year basis. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. On average, sell-side analysts forecast that Dycom Industries, Inc. will post 14.54 EPS for the current 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.