Dycom Industries, Inc. $DY Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its position in shares of Dycom Industries, Inc. (NYSE:DY) by 21.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,324,938 shares of the construction company’s stock after purchasing an additional 229,579 shares during the period. Dycom Industries comprises approximately 0.2% of Millennium Management LLC’s holdings, making the stock its 20th largest position. Millennium Management LLC’s holdings in Dycom Industries were worth $386,564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Focus Partners Wealth acquired a new position in Dycom Industries during the 3rd quarter worth approximately $628,000. Cartenna Capital LP acquired a new stake in shares of Dycom Industries in the 3rd quarter valued at approximately $40,846,000. Ausdal Financial Partners Inc. lifted its holdings in shares of Dycom Industries by 4.5% in the 3rd quarter. Ausdal Financial Partners Inc. now owns 1,521 shares of the construction company’s stock valued at $444,000 after buying an additional 65 shares during the period. Aventail Capital Group LP purchased a new stake in shares of Dycom Industries in the third quarter valued at approximately $5,285,000. Finally, California Public Employees Retirement System acquired a new position in Dycom Industries during the third quarter worth $12,762,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Performance

NYSE DY opened at $358.62 on Tuesday. The business has a 50 day moving average price of $384.25 and a 200 day moving average price of $332.49. The company has a market capitalization of $10.75 billion, a P/E ratio of 37.36 and a beta of 1.34. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $445.52. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.74 and a quick ratio of 2.61.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, March 4th. The construction company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.12. The company 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%.Dycom Industries’s quarterly revenue was up 34.4% compared to the same quarter last year. During the same period 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. Sell-side analysts expect that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Guggenheim began coverage on Dycom Industries in a research report on Thursday, January 22nd. They issued a “buy” rating and a $510.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Dycom Industries from $395.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Zacks Research cut shares of Dycom Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. UBS Group set a $475.00 price target on shares of Dycom Industries and gave the company a “buy” rating in a report on Friday, March 6th. Finally, Cantor Fitzgerald initiated coverage on shares of Dycom Industries in a report on Tuesday, March 10th. They set an “overweight” rating and a $436.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Dycom Industries currently has an average rating of “Moderate Buy” and a consensus target price of $431.64.

Insider Activity

In related news, Director Eitan Gertel sold 3,645 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $345.62, for a total value of $1,259,784.90. Following the sale, the director directly owned 15,997 shares in the company, valued at $5,528,883.14. The trade was a 18.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.72% of the stock is owned by company insiders.

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.