Bank of New York Mellon Corp Grows Stake in Dycom Industries, Inc. $DY

Bank of New York Mellon Corp lifted its stake in Dycom Industries, Inc. (NYSE:DY) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 owned 0.67% of Dycom Industries worth $68,026,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Kemnay Advisory Services Inc. bought a new stake in Dycom Industries during the 4th quarter valued at about $30,000. Sound Income Strategies LLC acquired a new position in Dycom Industries during the fourth quarter worth $32,000. Acumen Wealth Advisors LLC acquired a new stake in Dycom Industries during the 4th quarter worth $35,000. Legacy Wealth Managment LLC ID acquired a new position in shares of Dycom Industries during the 4th quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC lifted its position in Dycom Industries by 73.1% in the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings upgraded Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. Guggenheim raised their price target on Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. B. Riley Financial boosted their price target on Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Zacks Research upgraded Dycom Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Finally, Wedbush set a $654.00 target price on shares of Dycom Industries in a report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $554.92.

Dycom Industries Stock Performance

Shares of DY stock opened at $433.78 on Thursday. The company has a current ratio of 2.58, a quick ratio of 2.46 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $13.03 billion, a price-to-earnings ratio of 41.27, a P/E/G ratio of 0.75 and a beta of 1.50. The stock’s fifty day simple moving average is $452.46 and its 200-day simple moving average is $408.32. Dycom Industries, Inc. has a 1-year low of $233.00 and a 1-year high of $566.47.

Dycom Industries (NYSE:DY) last announced its quarterly 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. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.67 billion. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The firm’s revenue was up 56.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.09 EPS. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. On average, sell-side analysts predict that Dycom Industries, Inc. will post 15.42 earnings per share for the current fiscal 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.