14,321 Shares in Dycom Industries, Inc. $DY Purchased by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management purchased 14,321 Dycom Industries shares during the second quarter, valued at approximately $7.24 million. Institutional investors collectively own 98.33% of the company.
• Dycom reported quarterly earnings of $4.42 per share, beating estimates of $2.73, while revenue rose 56.1% year over year to $1.96 billion.
• Analysts remain broadly positive, with an average “Buy” rating and a $554.92 price target, despite the stock opening at $402.27 and trading below its 52-week high of $566.47.

Tocqueville Asset Management L.P. purchased a new position in Dycom Industries, Inc. (NYSE:DY - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,321 shares of the construction company's stock, valued at approximately $7,241,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Wealth LLC acquired a new position in shares of Dycom Industries during the 2nd quarter valued at about $482,000. Great Lakes Advisors LLC acquired a new stake in shares of Dycom Industries in the second quarter worth approximately $4,319,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Dycom Industries in the second quarter worth approximately $383,000. Danske Bank A S purchased a new stake in Dycom Industries in the second quarter valued at approximately $369,000. Finally, Citizens Financial Group Inc. RI acquired a new position in Dycom Industries during the second quarter worth approximately $256,000. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Stock Performance

Shares of DY stock opened at $402.27 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 cap of $12.08 billion, a PE ratio of 38.27, a P/E/G ratio of 0.73 and a beta of 1.54. The company's fifty day simple moving average is $434.11 and its 200-day simple moving average is $415.46. Dycom Industries, Inc. has a 52 week low of $233.00 and a 52 week high of $566.47.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The construction company reported $4.42 earnings per share for the quarter, topping analysts' consensus estimates of $2.73 by $1.69. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. The firm had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the prior year, the company earned $2.09 EPS. The firm'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, equities research analysts anticipate that Dycom Industries, Inc. will post 15.45 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on DY shares. Zacks Research cut shares of Dycom Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Wedbush set a $654.00 price target on Dycom Industries in a research report on Friday, May 29th. Cantor Fitzgerald boosted their price target on Dycom Industries from $436.00 to $654.00 and gave the company an "overweight" rating in a research report on Friday, May 29th. Weiss Ratings upgraded Dycom Industries from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 13th. Finally, UBS Group restated a "buy" rating on shares of Dycom Industries in a report on Friday, July 24th. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $554.92.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source