Renaissance Technologies LLC Buys New Stake in Dycom Industries, Inc. $DY

Renaissance Technologies LLC purchased a new stake in Dycom Industries, Inc. (NYSE:DY) during the first quarter, HoldingsChannel.com reports. The fund purchased 36,240 shares of the construction company’s stock, valued at approximately $12,279,000.

Several other hedge funds have also bought and sold shares of the stock. Wilson Asset Management International PTY Ltd. bought a new stake in shares of Dycom Industries in the fourth quarter worth about $1,014,000. Norges Bank purchased a new stake in shares of Dycom Industries in the fourth quarter worth about $19,335,000. Horizon Investments LLC boosted its stake in Dycom Industries by 43.0% during the fourth quarter. Horizon Investments LLC now owns 16,907 shares of the construction company’s stock valued at $5,713,000 after buying an additional 5,086 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in Dycom Industries by 82,666.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 24,830 shares of the construction company’s stock valued at $8,390,000 after buying an additional 24,800 shares during the last quarter. Finally, SteelPeak Wealth LLC purchased a new position in Dycom Industries during the 4th quarter valued at approximately $2,208,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on DY. Weiss Ratings downgraded Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Wells Fargo & Company increased their target price on Dycom Industries from $500.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. UBS Group reissued a “buy” rating on shares of Dycom Industries in a report on Friday, July 24th. Wall Street Zen cut shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, KeyCorp upped their price target 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. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $554.92.

Dycom Industries Price Performance

Dycom Industries stock opened at $400.32 on Friday. The firm has a market capitalization of $12.02 billion, a PE ratio of 38.09, a price-to-earnings-growth ratio of 0.71 and a beta of 1.50. Dycom Industries, Inc. has a 12-month low of $233.00 and a 12-month high of $566.47. The firm has a 50-day moving average price of $450.97 and a 200-day moving average price of $411.10. The company has a current ratio of 2.58, a quick ratio of 2.46 and a debt-to-equity ratio of 1.48.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, May 27th. The construction company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $1.69. The business had revenue of $1.96 billion during 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 quarterly revenue was up 56.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 earnings per share. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. As a group, equities research analysts forecast that Dycom Industries, Inc. will post 15.45 EPS for the current year.

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.