JPMorgan Chase & Co. Sells 2,720 Shares of Dycom Industries, Inc. $DY

JPMorgan Chase & Co. lowered its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 128,592 shares of the construction company’s stock after selling 2,720 shares during the period. JPMorgan Chase & Co. owned 0.44% of Dycom Industries worth $37,518,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Millennium Management LLC grew its holdings in Dycom Industries by 21.0% during the third quarter. Millennium Management LLC now owns 1,324,938 shares of the construction company’s stock valued at $386,564,000 after purchasing an additional 229,579 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Dycom Industries in the third quarter valued at $44,553,000. Bornite Capital Management LP bought a new stake in shares of Dycom Industries in the third quarter valued at $43,764,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Dycom Industries during the 2nd quarter valued at $34,671,000. Finally, Cartenna Capital LP bought a new position in shares of Dycom Industries during the 3rd quarter worth $40,846,000. Institutional investors own 98.33% of the company’s stock.

Insider Buying and Selling

In other Dycom Industries news, Director Eitan Gertel sold 3,645 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $345.62, for a total value of $1,259,784.90. Following the transaction, the director directly owned 15,997 shares in the company, valued at $5,528,883.14. This represents a 18.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.72% of the stock is currently owned by insiders.

Dycom Industries Stock Performance

NYSE DY opened at $336.43 on Friday. The company’s 50 day simple moving average is $384.69 and its two-hundred day simple moving average is $334.75. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.74 and a quick ratio of 2.61. Dycom Industries, Inc. has a 1 year low of $131.37 and a 1 year high of $445.52. The stock has a market capitalization of $10.08 billion, a PE ratio of 35.04, a P/E/G ratio of 0.78 and a beta of 1.34.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, March 4th. The construction company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.12. Dycom Industries had a net margin of 5.07% and a return on equity of 21.77%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business earned $1.17 EPS. The business’s revenue for the quarter was up 34.4% on a year-over-year basis. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. Analysts predict that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

DY has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Dycom Industries from $395.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. UBS Group set a $475.00 target price on shares of Dycom Industries and gave the stock a “buy” rating in a research report on Friday, March 6th. Guggenheim assumed coverage on shares of Dycom Industries in a research note on Thursday, January 22nd. They issued a “buy” rating and a $510.00 target price for the company. Bank of America boosted their price target on shares of Dycom Industries from $365.00 to $475.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen cut shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $431.64.

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.