California State Teachers Retirement System Has $8.91 Billion Position in Dycom Industries, Inc. $DY

California State Teachers Retirement System increased its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 51,902.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,614,250 shares of the construction company's stock after acquiring an additional 17,580,378 shares during the quarter. California State Teachers Retirement System owned approximately 58.66% of Dycom Industries worth $8,905,589,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of DY. Norges Bank bought a new stake in Dycom Industries in the 4th quarter valued at about $19,335,000. Royal Bank of Canada boosted its holdings in Dycom Industries by 50.1% in the first quarter. Royal Bank of Canada now owns 22,327 shares of the construction company's stock worth $7,566,000 after acquiring an additional 7,452 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Dycom Industries by 82,666.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 24,830 shares of the construction company's stock worth $8,390,000 after acquiring an additional 24,800 shares in the last quarter. Bank of America Corp DE grew its stake in Dycom Industries by 6.1% in the first quarter. Bank of America Corp DE now owns 445,830 shares of the construction company's stock valued at $151,056,000 after acquiring an additional 25,564 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Dycom Industries during the fourth quarter valued at approximately $1,693,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Weiss Ratings lowered Dycom Industries from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, August 31st. B. Riley Financial lifted their price target on shares of Dycom Industries from $485.00 to $625.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Wells Fargo & Company set a $476.00 price target on shares of Dycom Industries in a research note on Thursday, August 27th. JPMorgan Chase & Co. lowered their price objective on shares of Dycom Industries from $650.00 to $570.00 and set an "overweight" rating on the stock in a report on Thursday, August 27th. Finally, Wedbush set a $654.00 price objective on shares of Dycom Industries in a research note on Friday, May 29th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $502.42.

Dycom Industries Stock Performance

DY stock opened at $302.80 on Wednesday. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 1.35. The firm has a market cap of $9.13 billion, a PE ratio of 27.55, a P/E/G ratio of 0.52 and a beta of 1.49. The business has a 50 day moving average of $391.13 and a 200-day moving average of $407.53. Dycom Industries, Inc. has a 12-month low of $249.13 and a 12-month high of $566.47.

Dycom Industries (NYSE:DY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, topping analysts' consensus estimates of $4.72 by $0.57. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.Dycom Industries's quarterly revenue was up 45.6% compared to the same quarter last year. During the same period last year, the company posted $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, sell-side analysts expect that Dycom Industries, Inc. will post 15.63 earnings per share for the current year.

Dycom Industries announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Activity at Dycom Industries

In other Dycom Industries news, Director David Fallon bought 700 shares of the stock in a transaction dated Tuesday, September 1st. The shares were bought at an average cost of $286.92 per share, for a total transaction of $200,844.00. Following the purchase, the director directly owned 1,043 shares of the company's stock, valued at approximately $299,257.56. This trade represents a 204.08% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.22% of the stock is owned by insiders.

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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