BlackRock Inc. Invests $1.51 Billion in Dycom Industries, Inc. $DY

Key Points

• BlackRock acquired 2.99 million Dycom Industries shares during the second quarter, valued at approximately $1.51 billion and representing a 9.97% stake. Institutional investors collectively own 98.33% of the company.
• Dycom reported quarterly EPS of $4.42, beating estimates of $2.73, while revenue rose 56.1% year over year to $1.96 billion. The company guided to second-quarter 2027 EPS of $4.40–$4.82.
• Analysts remain broadly positive, with 11 Buy ratings and one Hold rating; the consensus rating is “Moderate Buy” with a price target of $578.09, compared with the stock’s reported price of $401.63.

BlackRock Inc. bought a new position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,993,578 shares of the construction company's stock, valued at approximately $1,513,523,000. BlackRock Inc. owned 9.97% of Dycom Industries as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC acquired a new position in shares of Dycom Industries during the second quarter worth $318,000. Deutsche Bank AG purchased a new stake in Dycom Industries during the 2nd quarter worth about $1,397,000. Perigon Wealth Management LLC acquired a new position in shares of Dycom Industries during the 2nd quarter worth about $202,000. Rice Hall James & Associates LLC acquired a new stake in shares of Dycom Industries during the 2nd quarter worth about $5,391,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Dycom Industries during the second quarter worth approximately $1,913,000. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Stock Performance

NYSE:DY opened at $401.63 on Friday. The firm's fifty day moving average price is $432.83 and its 200 day moving average price is $415.72. Dycom Industries, Inc. has a 1-year low of $242.55 and a 1-year high of $566.47. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.58 and a quick ratio of 2.46. The firm has a market cap of $12.06 billion, a price-to-earnings ratio of 38.21, a price-to-earnings-growth ratio of 0.71 and a beta of 1.54.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings data 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 net margin of 4.98% and a return on equity of 24.13%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. Dycom Industries's quarterly 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. On average, sell-side analysts expect that Dycom Industries, Inc. will post 15.45 EPS for the current year.

Analyst Ratings Changes

DY has been the topic of several recent analyst reports. UBS Group reiterated a "buy" rating on shares of Dycom Industries in a research note on Friday, July 24th. Wells Fargo & Company upped their target price on shares of Dycom Industries from $500.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. Wedbush set a $654.00 target price on shares of Dycom Industries in a research report on Friday, May 29th. Weiss Ratings upgraded shares of Dycom Industries from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 13th. Finally, Wall Street Zen cut shares of Dycom Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $578.09.

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.

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