Fifth Third Bancorp Grows Stock Holdings in Dycom Industries, Inc. $DY

Fifth Third Bancorp increased its stake in Dycom Industries, Inc. (NYSE:DY) by 2,957.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,215 shares of the construction company’s stock after buying an additional 6,979 shares during the quarter. Fifth Third Bancorp’s holdings in Dycom Industries were worth $2,445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wilson Asset Management International PTY Ltd. purchased a new stake in shares of Dycom Industries in the fourth quarter worth $1,014,000. Norges Bank bought a new position in Dycom Industries in the 4th quarter worth about $19,335,000. Horizon Investments LLC grew its position in Dycom Industries by 43.0% during the 4th quarter. Horizon Investments LLC now owns 16,907 shares of the construction company’s stock valued at $5,713,000 after purchasing an additional 5,086 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in Dycom Industries by 82,666.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 24,830 shares of the construction company’s stock valued at $8,390,000 after purchasing an additional 24,800 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new stake in Dycom Industries during the 4th quarter valued at about $2,208,000. Institutional investors own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DY shares. Weiss Ratings upgraded shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. Zacks Research upgraded Dycom Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. JPMorgan Chase & Co. upped their price target on Dycom Industries from $415.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Guggenheim lifted their price objective on Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Wall Street Zen raised Dycom Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Two research analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $554.92.

Dycom Industries Price Performance

NYSE DY opened at $423.02 on Wednesday. The company has a 50-day moving average price of $452.68 and a 200-day moving average price of $407.65. Dycom Industries, Inc. has a 52 week low of $233.00 and a 52 week high of $566.47. 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 firm has a market capitalization of $12.70 billion, a P/E ratio of 40.25, a PEG ratio of 0.72 and a beta of 1.50.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, May 27th. The construction company reported $4.42 earnings per share (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 company had revenue of $1.96 billion during 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 firm’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. Equities research analysts anticipate that Dycom Industries, Inc. will post 15.42 earnings per share 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.