Dycom Industries (NYSE:DY) Sets New 52-Week High – Still a Buy?

Dycom Industries, Inc. (NYSE:DY)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $411.77 and last traded at $412.0430, with a volume of 39152 shares traded. The stock had previously closed at $400.47.

Analysts Set New Price Targets

DY has been the topic of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Dycom Industries in a research report on Wednesday, January 21st. Guggenheim initiated 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. Bank of America boosted their price objective on Dycom Industries from $310.00 to $365.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Zacks Research lowered Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Vertical Research initiated coverage on shares of Dycom Industries in a report on Tuesday, December 23rd. They issued a “buy” rating and a $420.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $395.20.

Dycom Industries Stock Performance

The company has a quick ratio of 2.90, a current ratio of 3.09 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $356.91 and a 200-day simple moving average of $307.93. The company has a market capitalization of $12.01 billion, a P/E ratio of 41.11, a PEG ratio of 1.76 and a beta of 1.36.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, November 19th. The construction company reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.48. Dycom Industries had a net margin of 5.75% and a return on equity of 22.21%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the company posted $2.68 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Dycom Industries has set its Q4 2026 guidance at 1.620-1.970 EPS. Equities analysts forecast that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Insider Buying and Selling

In related news, Director Eitan Gertel sold 3,645 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $345.62, for a total transaction of $1,259,784.90. Following the sale, the director directly owned 15,997 shares in the company, valued at $5,528,883.14. This represents a 18.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.72% of the stock is currently owned by company insiders.

Institutional Trading of Dycom Industries

Several large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Dycom Industries by 265,593,055.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock valued at $8,076,953,000 after buying an additional 23,903,375 shares during the last quarter. Nordea Investment Management AB grew its holdings in Dycom Industries by 5,603.6% during the 4th quarter. Nordea Investment Management AB now owns 405,580 shares of the construction company’s stock worth $139,057,000 after acquiring an additional 398,469 shares during the last quarter. Millennium Management LLC increased its position in Dycom Industries by 21.0% in the 3rd quarter. Millennium Management LLC now owns 1,324,938 shares of the construction company’s stock valued at $386,564,000 after acquiring an additional 229,579 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Dycom Industries in the third quarter worth about $44,553,000. Finally, Bornite Capital Management LP acquired a new position in shares of Dycom Industries during the third quarter worth approximately $43,764,000. Institutional investors own 98.33% of the company’s stock.

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.