Millennium Management LLC Sells 351,758 Shares of Dycom Industries, Inc. $DY

Millennium Management LLC reduced its position in shares of Dycom Industries, Inc. (NYSE:DY) by 26.5% in the fourth quarter, HoldingsChannel reports. The firm owned 973,180 shares of the construction company’s stock after selling 351,758 shares during the quarter. Millennium Management LLC’s holdings in Dycom Industries were worth $328,838,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in DY. Northwestern Mutual Wealth Management Co. grew its stake in shares of Dycom Industries by 265,593,055.6% during the 4th 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 purchasing an additional 23,903,375 shares during the period. Nordea Investment Management AB grew its stake in shares of Dycom Industries by 5,603.6% during the 4th quarter. Nordea Investment Management AB now owns 405,580 shares of the construction company’s stock valued at $139,057,000 after purchasing an additional 398,469 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Dycom Industries during the 3rd quarter valued at about $44,553,000. Bornite Capital Management LP bought a new stake in shares of Dycom Industries during the 3rd quarter valued at about $43,764,000. Finally, Cartenna Capital LP bought a new stake in shares of Dycom Industries during the 3rd quarter valued at about $40,846,000. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Trading Down 2.1%

Shares of NYSE:DY opened at $461.87 on Thursday. The stock has a 50 day moving average of $434.81 and a 200 day moving average of $391.28. The company has a market cap of $13.87 billion, a PE ratio of 43.95, a price-to-earnings-growth ratio of 0.88 and a beta of 1.49. 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, Inc. has a 12-month low of $229.97 and a 12-month high of $566.47.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, May 27th. The construction company reported $4.42 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 company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm earned $2.09 EPS. The firm’s revenue was up 56.1% compared to the same quarter last year. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. As a group, equities research analysts expect that Dycom Industries, Inc. will post 14.54 EPS for the current year.

Analysts Set New Price Targets

DY has been the subject of a number of recent research reports. Weiss Ratings upgraded Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Wedbush set a $654.00 price target on Dycom Industries in a research note on Friday, May 29th. Zacks Research upgraded Dycom Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. JPMorgan Chase & Co. boosted their price objective on Dycom Industries from $415.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Finally, Bank of America boosted their price objective on Dycom Industries from $365.00 to $475.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus 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.