California Public Employees Retirement System Buys 2,882 Shares of Dycom Industries, Inc. $DY

Key Points

• California Public Employees Retirement System increased its stake in Dycom Industries by 6.3% in the first quarter, buying 2,882 additional shares and bringing its total holding to 48,573 shares worth about $16.46 million.
• Dycom reported strong quarterly results, posting EPS of $4.42 versus the $2.73 consensus and revenue of $1.96 billion, up 56.1% from a year earlier.
• Analysts remain bullish on the stock, with multiple firms raising price targets; the current consensus rating is Buy with an average target price of $554.92.

California Public Employees Retirement System boosted its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,573 shares of the construction company's stock after purchasing an additional 2,882 shares during the quarter. California Public Employees Retirement System owned about 0.16% of Dycom Industries worth $16,458,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Sound Income Strategies LLC bought a new stake in shares of Dycom Industries in the fourth quarter worth about $32,000. Kemnay Advisory Services Inc. bought a new position in Dycom Industries during the fourth quarter valued at approximately $30,000. Acumen Wealth Advisors LLC purchased a new position in Dycom Industries during the 4th quarter valued at approximately $35,000. Legacy Wealth Managment LLC ID purchased a new position in Dycom Industries during the 4th quarter valued at approximately $39,000. Finally, Nemes Rush Group LLC bought a new stake in Dycom Industries in the 4th quarter worth approximately $40,000. Institutional investors own 98.33% of the company's stock.

Dycom Industries Price Performance

NYSE:DY opened at $440.32 on Friday. The firm has a market capitalization of $13.22 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 0.76 and a beta of 1.50. 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 business has a 50 day simple moving average of $452.25 and a 200-day simple moving average of $408.98. Dycom Industries, Inc. has a 1 year low of $233.00 and a 1 year high of $566.47.

Dycom Industries (NYSE:DY - Get Free Report) last released its earnings results on Wednesday, May 27th. The construction company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $2.73 by $1.69. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The company's revenue for the quarter was up 56.1% compared to the same quarter last year. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. Equities analysts forecast that Dycom Industries, Inc. will post 15.49 EPS for the current year.

Analyst Ratings Changes

DY has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Dycom Industries from $415.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 28th. Cantor Fitzgerald boosted their price target on shares of Dycom Industries from $436.00 to $654.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. UBS Group reaffirmed a "buy" rating and set a $611.00 price target on shares of Dycom Industries in a research note on Friday, May 29th. Wedbush set a $654.00 price objective on shares of Dycom Industries in a research report on Friday, May 29th. Finally, KeyCorp lifted their price objective on shares of Dycom Industries from $482.00 to $610.00 and gave the stock an "overweight" rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $554.92.

Dycom Industries Company 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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