Ballentine Partners LLC Purchases Shares of 923 Dycom Industries, Inc. $DY

Key Points

• Ballentine Partners LLC purchased 923 shares of Dycom Industries, Inc. valued at approximately $226,000, reflecting increased institutional interest in the company.
• A number of analysts have raised their price targets for Dycom Industries, with average projections now at $293.25 and several firms assigning a "buy" or "strong-buy" rating.
• Dycom Industries reported a quarterly EPS of $3.33, surpassing estimates by $0.41, alongside a year-over-year revenue growth of 14.5% despite a slight miss on expected revenue.

Ballentine Partners LLC purchased a new stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 923 shares of the construction company's stock, valued at approximately $226,000.

A number of other large investors have also made changes to their positions in DY. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Dycom Industries by 851.6% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company's stock valued at $72,459,000 after purchasing an additional 425,652 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Dycom Industries by 327.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company's stock valued at $60,818,000 after purchasing an additional 305,755 shares during the period. Nuveen LLC bought a new stake in shares of Dycom Industries during the 1st quarter valued at about $21,451,000. Voya Investment Management LLC grew its stake in shares of Dycom Industries by 1,432.2% during the 1st quarter. Voya Investment Management LLC now owns 144,883 shares of the construction company's stock valued at $22,071,000 after purchasing an additional 135,427 shares during the period. Finally, Hill City Capital LP grew its stake in shares of Dycom Industries by 14.1% during the 1st quarter. Hill City Capital LP now owns 969,784 shares of the construction company's stock valued at $147,737,000 after purchasing an additional 120,000 shares during the period. 98.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DY shares. Wall Street Zen raised Dycom Industries from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. DA Davidson lifted their price objective on Dycom Industries from $265.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Bank of America lifted their price objective on Dycom Industries from $299.00 to $310.00 and gave the company a "buy" rating in a research report on Monday. Raymond James Financial lifted their price objective on Dycom Industries from $290.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 21st. Finally, UBS Group lifted their price objective on Dycom Industries from $288.00 to $296.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Dycom Industries has an average rating of "Buy" and a consensus target price of $293.25.

Dycom Industries Trading Up 2.4%

DY stock opened at $294.21 on Tuesday. Dycom Industries, Inc. has a 1-year low of $131.37 and a 1-year high of $294.59. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.16 and a quick ratio of 2.96. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 1.37 and a beta of 1.18. The business has a 50 day simple moving average of $264.64 and a two-hundred day simple moving average of $222.70.

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, topping the consensus estimate of $2.92 by $0.41. The business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.41 billion. Dycom Industries had a return on equity of 21.17% and a net margin of 5.23%.The company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 EPS. Dycom Industries has set its FY 2026 guidance at EPS. Q3 2026 guidance at 3.030-3.36 EPS. Research analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS 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.

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