Connor Clark & Lunn Investment Management Ltd. Purchases New Shares in Dycom Industries, Inc. $DY

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired 8,896 shares of Dycom Industries, valued at approximately $1,355,000, in the first quarter of the year.
• Several institutional investors, including Alyeska Investment Group and OVERSEA CHINESE BANKING Corp Ltd., have significantly increased their stakes in Dycom Industries, leading to 98.33% of the stock being owned by institutional investors.
• Wall Street analysts have mixed views on Dycom Industries, with a range of ratings from "buy" to "hold," and an average target price of $259.00 for the stock.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,896 shares of the construction company's stock, valued at approximately $1,355,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its stake in shares of Dycom Industries by 5.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,828 shares of the construction company's stock worth $3,451,000 after purchasing an additional 938 shares during the last quarter. Federated Hermes Inc. raised its position in Dycom Industries by 107.0% during the 4th quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock worth $67,000 after purchasing an additional 200 shares during the last quarter. Cerity Partners LLC raised its position in Dycom Industries by 19.3% during the 4th quarter. Cerity Partners LLC now owns 2,242 shares of the construction company's stock worth $417,000 after purchasing an additional 363 shares during the last quarter. Bank of Montreal Can raised its position in Dycom Industries by 8.0% during the 4th quarter. Bank of Montreal Can now owns 4,672 shares of the construction company's stock worth $813,000 after purchasing an additional 348 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in shares of Dycom Industries by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,972 shares of the construction company's stock valued at $517,000 after buying an additional 94 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on DY. UBS Group lifted their price objective on Dycom Industries from $288.00 to $296.00 and gave the stock a "buy" rating in a research note on Thursday. Wall Street Zen lowered shares of Dycom Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. DA Davidson upped their price objective on shares of Dycom Industries from $265.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday. Wells Fargo & Company increased their price objective on shares of Dycom Industries from $250.00 to $295.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Raymond James Financial lifted their target price on shares of Dycom Industries from $290.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $278.75.

Dycom Industries Stock Up 2.0%

DY traded up $5.1460 during trading on Thursday, hitting $262.4060. 502,465 shares of the company's stock were exchanged, compared to its average volume of 404,168. Dycom Industries, Inc. has a fifty-two week low of $131.37 and a fifty-two week high of $285.64. The stock has a market cap of $7.59 billion, a P/E ratio of 29.48, a PEG ratio of 1.47 and a beta of 1.34. The business's 50 day moving average is $255.48 and its two-hundred day moving average is $204.74. The company has a quick ratio of 2.68, a current ratio of 3.16 and a debt-to-equity ratio of 0.74.

Dycom Industries (NYSE:DY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.41. Dycom Industries had a net margin of 5.23% and a return on equity of 21.17%. The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same period last year, the company earned $2.46 earnings per share. The business's revenue was up 14.5% on a year-over-year basis. Dycom Industries has set its FY 2026 guidance at EPS. Q3 2026 guidance at 3.030-3.36 EPS. As a group, equities analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Dycom Industries Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.