Bank of New York Mellon Corp Grows Holdings in Dycom Industries, Inc. $DY

Bank of New York Mellon Corp increased its position in shares of Dycom Industries, Inc. (NYSE:DY) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 196,065 shares of the construction company’s stock after buying an additional 2,479 shares during the period. Bank of New York Mellon Corp’s holdings in Dycom Industries were worth $66,250,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in Dycom Industries by 17.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 203 shares of the construction company’s stock worth $69,000 after acquiring an additional 30 shares in the last quarter. First Bank & Trust grew its holdings in Dycom Industries by 1.6% during the 4th quarter. First Bank & Trust now owns 2,106 shares of the construction company’s stock worth $712,000 after acquiring an additional 33 shares in the last quarter. CWM LLC grew its holdings in Dycom Industries by 1.9% during the 4th quarter. CWM LLC now owns 1,956 shares of the construction company’s stock worth $661,000 after acquiring an additional 36 shares in the last quarter. Optiver Holding B.V. grew its holdings in Dycom Industries by 57.1% during the 3rd quarter. Optiver Holding B.V. now owns 110 shares of the construction company’s stock worth $32,000 after acquiring an additional 40 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Dycom Industries by 48.5% during the 3rd quarter. Bessemer Group Inc. now owns 150 shares of the construction company’s stock worth $43,000 after acquiring an additional 49 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on DY. Bank of America raised their price objective on shares of Dycom Industries from $365.00 to $475.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Wedbush set a $654.00 price objective on shares of Dycom Industries in a report on Friday, May 29th. Guggenheim raised their price objective on shares of Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wall Street Zen raised shares of Dycom Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, UBS Group reissued a “buy” rating and set a $611.00 price objective on shares of Dycom Industries in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $554.92.

Dycom Industries Trading Down 1.0%

NYSE DY opened at $454.07 on Wednesday. Dycom Industries, Inc. has a one year low of $229.97 and a one year high of $566.47. The company has a 50-day simple moving average of $420.23 and a 200-day simple moving average of $386.09. 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 capitalization of $13.64 billion, a PE ratio of 43.20, a price-to-earnings-growth ratio of 0.86 and a beta of 1.49.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, May 27th. The construction company reported $4.42 EPS for the quarter, beating 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 business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business posted $2.09 EPS. The company’s quarterly 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. On average, equities analysts forecast that Dycom Industries, Inc. will post 14.54 earnings per share for the current year.

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.