Bank of New York Mellon Corp Raises Position in Dycom Industries, Inc. $DY

Bank of New York Mellon Corp boosted its stake in Dycom Industries, Inc. (NYSE:DY) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,065 shares of the construction company’s stock after buying an additional 2,479 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.68% of Dycom Industries worth $66,250,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DY. Nordea Investment Management AB lifted its stake in Dycom Industries by 5,603.6% in the 4th quarter. Nordea Investment Management AB now owns 405,580 shares of the construction company’s stock worth $139,057,000 after purchasing an additional 398,469 shares in the last quarter. Wilson Asset Management International PTY Ltd. purchased a new position in Dycom Industries in the 4th quarter worth approximately $1,014,000. New York Life Investment Management LLC purchased a new position in Dycom Industries in the 3rd quarter worth approximately $830,000. American Century Companies Inc. lifted its stake in Dycom Industries by 58.4% in the 3rd quarter. American Century Companies Inc. now owns 97,801 shares of the construction company’s stock worth $28,534,000 after purchasing an additional 36,074 shares in the last quarter. Finally, 12th Street Asset Management Company LLC lifted its stake in Dycom Industries by 48.9% in the 3rd quarter. 12th Street Asset Management Company LLC now owns 67,238 shares of the construction company’s stock worth $19,617,000 after purchasing an additional 22,077 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wedbush set a $654.00 target price on shares of Dycom Industries in a research note on Friday, May 29th. Guggenheim raised their target price on shares of Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. B. Riley Financial raised their target price on shares of Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. UBS Group reissued a “buy” rating and issued a $611.00 target price on shares of Dycom Industries in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Dycom Industries from $415.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. One investment 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $554.92.

Dycom Industries Price Performance

Dycom Industries stock opened at $454.07 on Wednesday. The stock has a market cap of $13.64 billion, a P/E ratio of 43.20, a price-to-earnings-growth ratio of 0.86 and a beta of 1.49. The company has a fifty day simple moving average of $420.23 and a 200-day simple moving average of $386.09. Dycom Industries, Inc. has a 12-month low of $229.97 and a 12-month 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 results on Wednesday, May 27th. The construction company reported $4.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business posted $2.09 earnings per share. The business’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 analysts expect that Dycom Industries, Inc. will post 14.54 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.