Bank of New York Mellon Corp Has $68.03 Million Stock Holdings in Dycom Industries, Inc. $DY

Bank of New York Mellon Corp boosted its holdings in Dycom Industries, Inc. (NYSE:DY) by 2.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 200,772 shares of the construction company’s stock after acquiring an additional 4,707 shares during the quarter. Bank of New York Mellon Corp’s holdings in Dycom Industries were worth $68,026,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Dycom Industries by 265,593,055.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock valued at $8,076,953,000 after buying an additional 23,903,375 shares during the period. Peconic Partners LLC grew its holdings in Dycom Industries by 2.8% in the second quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company’s stock worth $933,038,000 after purchasing an additional 105,586 shares during the period. Geode Capital Management LLC grew its stake in Dycom Industries by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company’s stock valued at $245,771,000 after acquiring an additional 53,993 shares during the period. First Trust Advisors LP raised its holdings in Dycom Industries by 3.4% during the fourth quarter. First Trust Advisors LP now owns 625,171 shares of the construction company’s stock worth $211,245,000 after buying an additional 20,306 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in 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 valued at $188,725,000 after acquiring an additional 110,065 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Up 2.5%

Shares of NYSE DY opened at $433.78 on Thursday. The stock’s fifty day simple moving average is $452.46 and its two-hundred day simple moving average is $408.32. Dycom Industries, Inc. has a 12-month low of $233.00 and a 12-month high of $566.47. The stock has a market capitalization of $13.03 billion, a PE ratio of 41.27, a price-to-earnings-growth ratio of 0.75 and a beta of 1.50. 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 released its quarterly earnings data on Wednesday, May 27th. The construction company reported $4.42 EPS for the quarter, beating the consensus estimate of $2.73 by $1.69. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.67 billion. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. The business’s revenue for the quarter was up 56.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. As a group, analysts expect that Dycom Industries, Inc. will post 15.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Dycom Industries from $415.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. KeyCorp upped their price objective on shares of Dycom Industries from $482.00 to $610.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. UBS Group reaffirmed a “buy” rating and issued a $611.00 price target on shares of Dycom Industries in a research note on Friday, May 29th. Zacks Research raised Dycom Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Finally, Guggenheim upped their price target on Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $554.92.

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.