California State Teachers Retirement System Boosts Holdings in Dycom Industries, Inc. $DY

Key Points

• California State Teachers Retirement System increased its Dycom Industries stake by 24.4% in the first quarter, bringing its holdings to 33,872 shares valued at approximately $11.5 million. Institutional investors collectively own 98.33% of the company.
• Analysts remain broadly bullish, with an average “Buy” rating and a $554.92 price target. B. Riley and Cantor Fitzgerald raised their targets to $625 and $654, respectively.
• Dycom reported strong quarterly results, posting $4.42 in EPS versus the $2.73 consensus estimate and $1.96 billion in revenue, up 56.1% year over year and above expectations.

California State Teachers Retirement System boosted its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,872 shares of the construction company's stock after purchasing an additional 6,639 shares during the period. California State Teachers Retirement System owned approximately 0.11% of Dycom Industries worth $11,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of DY. Northwestern Mutual Wealth Management Co. boosted its holdings in Dycom Industries by 265,593,055.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company's stock valued at $8,076,953,000 after acquiring an additional 23,903,375 shares during the period. First Trust Advisors LP boosted its stake in shares of Dycom Industries by 27.8% during the first quarter. First Trust Advisors LP now owns 798,699 shares of the construction company's stock valued at $270,615,000 after purchasing an additional 173,528 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Dycom Industries in the third quarter worth about $44,553,000. Price T Rowe Associates Inc. MD lifted its holdings in Dycom Industries by 24.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 558,519 shares of the construction company's stock valued at $188,725,000 after buying an additional 110,065 shares in the last quarter. Finally, Peconic Partners LLC lifted its holdings in Dycom Industries by 2.8% during the 2nd quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company's stock valued at $933,038,000 after buying an additional 105,586 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DY has been the subject of a number of research reports. Wall Street Zen lowered Dycom Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. UBS Group reissued a "buy" rating on shares of Dycom Industries in a research report on Friday, July 24th. B. Riley Financial lifted their price objective on Dycom Industries from $485.00 to $625.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Weiss Ratings cut shares of Dycom Industries from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, July 29th. Finally, Cantor Fitzgerald boosted their price objective on shares of Dycom Industries from $436.00 to $654.00 and gave the stock an "overweight" rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $554.92.

Dycom Industries Price Performance

Shares of NYSE DY opened at $416.15 on Tuesday. Dycom Industries, Inc. has a fifty-two week low of $233.00 and a fifty-two week high of $566.47. The company has a market cap of $12.50 billion, a PE ratio of 39.60, a P/E/G ratio of 0.71 and a beta of 1.54. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.46 and a current ratio of 2.58. The business has a 50-day simple moving average of $451.04 and a two-hundred day simple moving average of $411.98.

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

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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