Royal Bank of Canada Acquires 7,452 Shares of Dycom Industries, Inc. $DY

Royal Bank of Canada raised its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 50.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,327 shares of the construction company’s stock after buying an additional 7,452 shares during the period. Royal Bank of Canada’s holdings in Dycom Industries were worth $7,566,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DY. Sound Income Strategies LLC purchased a new position in Dycom Industries in the 4th quarter worth approximately $32,000. Kemnay Advisory Services Inc. bought a new position in Dycom Industries in the 4th quarter worth $30,000. Acumen Wealth Advisors LLC purchased a new position in shares of Dycom Industries during the fourth quarter valued at about $35,000. Legacy Wealth Managment LLC ID bought a new position in Dycom Industries in the fourth quarter worth about $39,000. Finally, Nemes Rush Group LLC bought a new position in Dycom Industries in the fourth quarter worth about $40,000. 98.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on DY shares. Zacks Research cut Dycom Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Wells Fargo & Company raised their target price on Dycom Industries from $500.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Weiss Ratings downgraded Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 29th. Wedbush set a $654.00 target price on shares of Dycom Industries in a report on Friday, May 29th. Finally, Guggenheim upped their target price on shares of Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $554.92.

Dycom Industries Stock Down 1.5%

NYSE:DY opened at $401.91 on Tuesday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.46 and a current ratio of 2.58. The firm has a market cap of $12.07 billion, a P/E ratio of 38.24, a P/E/G ratio of 0.72 and a beta of 1.54. Dycom Industries, Inc. has a fifty-two week low of $233.00 and a fifty-two week high of $566.47. The firm has a 50-day simple moving average of $441.95 and a two-hundred day simple moving average of $413.42.

Dycom Industries (NYSE:DY) last issued its earnings results 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. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm posted $2.09 earnings per share. The business’s revenue was up 56.1% on a year-over-year basis. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. Analysts predict that Dycom Industries, Inc. will post 15.45 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.