Principal Financial Group Inc. Has $120.56 Million Position in Dycom Industries, Inc. $DY

Principal Financial Group Inc. lessened its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 25.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 356,803 shares of the construction company’s stock after selling 122,024 shares during the period. Principal Financial Group Inc.’s holdings in Dycom Industries were worth $120,564,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DY. Jones Financial Companies Lllp raised its position in Dycom Industries by 4,626.1% in the first quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock valued at $331,000 after purchasing an additional 2,128 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Dycom Industries by 7.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock worth $10,622,000 after acquiring an additional 4,985 shares in the last quarter. Invesco Ltd. lifted its stake in Dycom Industries by 7.0% in the second quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock valued at $55,508,000 after buying an additional 14,891 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Dycom Industries by 73.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after acquiring an additional 68 shares during the period. Finally, Cerity Partners LLC boosted its stake in Dycom Industries by 8.9% during the second quarter. Cerity Partners LLC now owns 2,239 shares of the construction company’s stock worth $547,000 after acquiring an additional 183 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Trading Up 0.4%

Shares of DY opened at $458.83 on Thursday. Dycom Industries, Inc. has a twelve month low of $182.67 and a twelve month high of $464.82. The stock has a market cap of $13.77 billion, a PE ratio of 47.80, a P/E/G ratio of 1.05 and a beta of 1.46. The company has a quick ratio of 2.61, a current ratio of 2.74 and a debt-to-equity ratio of 1.51. The business’s 50-day moving average price is $381.48 and its 200-day moving average price is $358.68.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, March 4th. The construction company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.12. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.34 billion. Dycom Industries had a return on equity of 21.77% and a net margin of 5.07%.The company’s revenue was up 34.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 earnings per share. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. On average, equities analysts forecast that Dycom Industries, Inc. will post 12.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DY. Guggenheim started coverage on shares of Dycom Industries in a report on Thursday, January 22nd. They set a “buy” rating and a $510.00 price objective on the stock. Bank of America raised their target price on Dycom Industries from $365.00 to $475.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. B. Riley Financial boosted their target price on Dycom Industries from $420.00 to $485.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Wall Street Zen downgraded shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Finally, Zacks Research raised shares of Dycom Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One research 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. According to MarketBeat.com, Dycom Industries currently has a consensus rating of “Buy” and a consensus target price of $431.64.

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.