Renaissance Technologies LLC Takes $12.28 Million Position in Dycom Industries, Inc. $DY

Renaissance Technologies LLC acquired a new stake in shares of Dycom Industries, Inc. (NYSE:DY) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,240 shares of the construction company’s stock, valued at approximately $12,279,000. Renaissance Technologies LLC owned 0.12% of Dycom Industries as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DY. Northwestern Mutual Wealth Management Co. grew its position in Dycom Industries by 265,593,055.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock worth $8,076,953,000 after purchasing an additional 23,903,375 shares during the period. First Trust Advisors LP lifted its holdings in shares of Dycom Industries by 27.8% during the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock valued at $270,615,000 after buying an additional 173,528 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Dycom Industries during the 3rd quarter valued at $44,553,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Dycom Industries by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 558,519 shares of the construction company’s stock worth $188,725,000 after buying an additional 110,065 shares during the last quarter. Finally, Peconic Partners LLC boosted its stake in shares of Dycom Industries by 2.8% in the 2nd quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company’s stock worth $933,038,000 after buying an additional 105,586 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on DY. Wall Street Zen cut Dycom Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. JPMorgan Chase & Co. raised their target price on Dycom Industries from $415.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Weiss Ratings downgraded Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. B. Riley Financial upped their price target on shares of Dycom Industries from $485.00 to $625.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Zacks Research cut shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Dycom Industries currently has a consensus rating of “Buy” and an average price target of $554.92.

Dycom Industries Stock Performance

NYSE DY opened at $400.32 on Friday. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 38.09, a price-to-earnings-growth ratio of 0.71 and a beta of 1.50. The company has a quick ratio of 2.46, a current ratio of 2.58 and a debt-to-equity ratio of 1.48. The business has a 50-day moving average price of $450.97 and a 200-day moving average price of $411.10. Dycom Industries, Inc. has a twelve month low of $233.00 and a twelve month high of $566.47.

Dycom Industries (NYSE:DY) last released its earnings results 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. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The firm’s revenue was up 56.1% on a year-over-year basis. During the same quarter last year, the business posted $2.09 earnings per share. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. As a group, equities research analysts predict that Dycom Industries, Inc. will post 15.45 EPS for the current fiscal 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.