Legal & General Group Plc Reduces Stake in Dycom Industries, Inc. $DY

Legal & General Group Plc reduced its stake in Dycom Industries, Inc. (NYSE:DY) by 44.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,809 shares of the construction company’s stock after selling 38,670 shares during the quarter. Legal & General Group Plc owned approximately 0.17% of Dycom Industries worth $16,155,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Optiver Holding B.V. grew its holdings in Dycom Industries by 57.1% in the 3rd quarter. Optiver Holding B.V. now owns 110 shares of the construction company’s stock valued at $32,000 after buying an additional 40 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Dycom Industries during the 4th quarter worth $32,000. CI Investments Inc. grew its holdings in shares of Dycom Industries by 259.4% during the 3rd quarter. CI Investments Inc. now owns 115 shares of the construction company’s stock worth $34,000 after purchasing an additional 83 shares during the period. UMB Bank n.a. grew its holdings in shares of Dycom Industries by 57.3% during the 3rd quarter. UMB Bank n.a. now owns 129 shares of the construction company’s stock worth $38,000 after purchasing an additional 47 shares during the period. Finally, Legacy Wealth Managment LLC ID purchased a new position in shares of Dycom Industries during the 4th quarter worth $39,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Price Performance

DY stock opened at $495.22 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.58 and a quick ratio of 2.46. The firm has a market capitalization of $14.87 billion, a P/E ratio of 47.12, a P/E/G ratio of 1.17 and a beta of 1.49. The business’s 50-day moving average is $404.83 and its two-hundred day moving average is $378.68. Dycom Industries, Inc. has a 1 year low of $225.79 and a 1 year high of $566.47.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, May 27th. The construction company reported $4.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $1.69. The company had revenue of $1.96 billion for 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%.Dycom Industries’s revenue for the quarter was up 56.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.09 EPS. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. Analysts anticipate that Dycom Industries, Inc. will post 12.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Dycom Industries from $415.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Guggenheim increased their price target on Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wedbush set a $654.00 price target on Dycom Industries in a report on Friday. KeyCorp increased their price target on Dycom Industries from $482.00 to $610.00 and gave the stock an “overweight” rating in a report on Monday. Finally, B. Riley Financial increased 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $554.92.

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.