CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Grows Position in Dycom Industries, Inc. $DY

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Dycom Industries, Inc. (NYSE:DY) by 140.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,000 shares of the construction company’s stock after purchasing an additional 21,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.12% of Dycom Industries worth $12,198,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Dycom Industries by 265,593,055.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock worth $8,076,953,000 after buying an additional 23,903,375 shares in the last quarter. Nordea Investment Management AB raised its position in shares of 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 worth $139,057,000 after acquiring an additional 398,469 shares during the period. Millennium Management LLC raised its position in shares of Dycom Industries by 21.0% in the third quarter. Millennium Management LLC now owns 1,324,938 shares of the construction company’s stock worth $386,564,000 after acquiring an additional 229,579 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of Dycom Industries during the 3rd quarter worth about $44,553,000. Finally, Cartenna Capital LP purchased a new stake in shares of Dycom Industries during the 3rd quarter worth about $40,846,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. UBS Group reaffirmed a “buy” rating and issued a $611.00 price target on shares of Dycom Industries in a report on Friday, May 29th. Wedbush set a $654.00 price objective on Dycom Industries in a report on Friday, May 29th. Wall Street Zen upgraded Dycom Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. B. Riley Financial upped their target price on Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Dycom Industries from $415.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $554.92.

Dycom Industries Price Performance

Shares of Dycom Industries stock opened at $437.24 on Monday. The business has a 50 day simple moving average of $453.62 and a two-hundred day simple moving average of $401.35. 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 $13.13 billion, a P/E ratio of 41.60, a PEG ratio of 0.77 and a beta of 1.50. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.58 and a quick ratio of 2.46.

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 return on equity of 24.13% and a net margin of 4.98%.The firm 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 company posted $2.09 earnings per share. The business’s revenue was up 56.1% on a year-over-year basis. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. As a group, analysts predict that Dycom Industries, Inc. will post 15.42 EPS for the current fiscal year.

Dycom Industries 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.