Hsbc Holdings PLC Sells 2,192 Shares of Dycom Industries, Inc. $DY

Hsbc Holdings PLC lessened its stake in Dycom Industries, Inc. (NYSE:DY) by 51.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,106 shares of the construction company’s stock after selling 2,192 shares during the quarter. Hsbc Holdings PLC’s holdings in Dycom Industries were worth $713,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its holdings in Dycom Industries by 5.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,105 shares of the construction company’s stock valued at $2,068,000 after buying an additional 305 shares during the period. Quantum Portfolio Management LLC bought a new stake in shares of Dycom Industries during the 1st quarter worth approximately $424,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of Dycom Industries by 140.0% during the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 36,000 shares of the construction company’s stock worth $12,198,000 after acquiring an additional 21,000 shares during the period. Koshinski Asset Management Inc. boosted its position in shares of Dycom Industries by 60.9% during the 1st quarter. Koshinski Asset Management Inc. now owns 2,466 shares of the construction company’s stock worth $836,000 after acquiring an additional 933 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in shares of Dycom Industries during the 1st quarter worth approximately $759,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DY has been the topic of a number of recent analyst reports. B. Riley Financial lifted their price objective on shares of Dycom Industries from $485.00 to $625.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Cantor Fitzgerald raised their target price on Dycom Industries from $436.00 to $654.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Wedbush set a $654.00 price target on Dycom Industries in a research note on Friday, May 29th. Weiss Ratings cut Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, UBS Group restated a “buy” rating on shares of Dycom Industries in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $554.92.

Dycom Industries Trading Up 12.2%

Shares of Dycom Industries stock opened at $417.30 on Friday. The firm’s 50 day moving average is $451.22 and its 200 day moving average is $411.18. The firm has a market capitalization of $12.53 billion, a PE ratio of 39.71, a price-to-earnings-growth ratio of 0.66 and a beta of 1.50. Dycom Industries, Inc. has a 1 year low of $233.00 and a 1 year high of $566.47. 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 issued its quarterly earnings data 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 the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. The firm’s revenue was up 56.1% compared to the same quarter last year. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. Equities research analysts forecast that Dycom Industries, Inc. will post 15.45 earnings per share for the current fiscal 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.