Arrowstreet Capital Limited Partnership Purchases 65,724 Shares of Dycom Industries, Inc. $DY

Key Points

• Arrowstreet Capital increased its Dycom Industries stake by 19.9% in Q1, buying 65,724 more shares and bringing its total holding to 396,240 shares worth about $134.3 million.
• Several other institutional investors also added or initiated positions, and hedge funds/institutions now own 98.33% of Dycom’s stock.
• Analyst sentiment remains positive overall: Dycom has a Buy consensus rating with an average price target of $554.92, and recent reports included higher targets from Guggenheim and JPMorgan.

Arrowstreet Capital Limited Partnership grew its position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 19.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 396,240 shares of the construction company's stock after acquiring an additional 65,724 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.32% of Dycom Industries worth $134,254,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DY. Kemnay Advisory Services Inc. acquired a new stake in shares of Dycom Industries during the 4th quarter worth about $30,000. Sound Income Strategies LLC bought a new position in Dycom Industries in the 4th quarter valued at approximately $32,000. Acumen Wealth Advisors LLC bought a new position in Dycom Industries in the 4th quarter valued at approximately $35,000. Legacy Wealth Managment LLC ID acquired a new position in shares of Dycom Industries in the fourth quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Dycom Industries by 73.1% during the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company's stock worth $39,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 98.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on DY shares. Wall Street Zen cut Dycom Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday. UBS Group reaffirmed a "buy" rating on shares of Dycom Industries in a report on Friday. Weiss Ratings upgraded shares of Dycom Industries from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, July 6th. Guggenheim raised their price target on shares of Dycom Industries from $575.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Dycom Industries from $415.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. According to MarketBeat, Dycom Industries presently has an average rating of "Buy" and an average price target of $554.92.

Dycom Industries Price Performance

DY stock opened at $430.58 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.46 and a current ratio of 2.58. Dycom Industries, Inc. has a 52 week low of $233.00 and a 52 week high of $566.47. The firm's fifty day moving average is $452.12 and its 200 day moving average is $409.13. The firm has a market cap of $12.93 billion, a P/E ratio of 40.97, a P/E/G ratio of 0.76 and a beta of 1.50.

Dycom Industries (NYSE:DY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The construction company reported $4.42 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $1.69. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.67 billion. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. The firm's revenue was up 56.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.09 EPS. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. Research analysts predict that Dycom Industries, Inc. will post 15.45 earnings per share for the current year.

Dycom Industries 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.

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