57,222 Shares in Dycom Industries, Inc. $DY Bought by Norges Bank

Norges Bank purchased a new position in shares of Dycom Industries, Inc. (NYSE:DY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 57,222 shares of the construction company’s stock, valued at approximately $19,335,000. Norges Bank owned approximately 0.20% of Dycom Industries at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in Dycom Industries by 5,603.6% in the fourth quarter. Nordea Investment Management AB now owns 405,580 shares of the construction company’s stock valued at $139,057,000 after purchasing an additional 398,469 shares during the period. Wilson Asset Management International PTY Ltd. purchased a new stake in shares of Dycom Industries in the fourth quarter valued at about $1,014,000. New York Life Investment Management LLC purchased a new stake in shares of Dycom Industries in the third quarter valued at about $830,000. American Century Companies Inc. boosted its holdings in Dycom Industries by 58.4% during the third quarter. American Century Companies Inc. now owns 97,801 shares of the construction company’s stock worth $28,534,000 after buying an additional 36,074 shares in the last quarter. Finally, 12th Street Asset Management Company LLC boosted its holdings in Dycom Industries by 48.9% during the third quarter. 12th Street Asset Management Company LLC now owns 67,238 shares of the construction company’s stock worth $19,617,000 after buying an additional 22,077 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DY. Cantor Fitzgerald upped their price target on shares of Dycom Industries from $436.00 to $654.00 and gave the company an “overweight” rating in a report on Friday, May 29th. JPMorgan Chase & Co. upped their price target on shares of Dycom Industries from $415.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Guggenheim boosted their price objective on shares of Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Bank of America boosted their price objective on shares of Dycom Industries from $365.00 to $475.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen raised shares of Dycom Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $554.92.

Dycom Industries Stock Performance

Shares of DY stock 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 debt-to-equity ratio of 1.48, a quick ratio of 2.46 and a current ratio of 2.58. The company has a 50 day moving average price of $420.23 and a 200 day moving average price of $386.09. The firm has a market capitalization of $13.64 billion, a price-to-earnings ratio of 43.20, a price-to-earnings-growth ratio of 0.86 and a beta of 1.49.

Dycom Industries (NYSE:DY) last released its quarterly earnings data 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 company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $2.09 earnings per share. The business’s quarterly 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. Sell-side analysts anticipate that Dycom Industries, Inc. will post 14.54 EPS for the current 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.