Canada Pension Plan Investment Board Cuts Stake in Dycom Industries, Inc. $DY

Key Points

• Canada Pension Plan Investment Board has decreased its stake in Dycom Industries, Inc. by 3.9%, now holding 42,400 shares worth approximately $6.46 million.
• Several institutional investors have increased their positions in Dycom, with KBC Group NV raising its stake by 18.9% and Public Employees Retirement System of Ohio increasing theirs by 105.5% in recent quarters.
• Analysts are optimistic about Dycom, with multiple firms raising their price targets, leading to a consensus rating of "Buy" and an average target price of $289.43.

Canada Pension Plan Investment Board reduced its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 3.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,400 shares of the construction company's stock after selling 1,700 shares during the quarter. Canada Pension Plan Investment Board owned about 0.15% of Dycom Industries worth $6,459,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DY. CW Advisors LLC boosted its holdings in shares of Dycom Industries by 1.0% in the first quarter. CW Advisors LLC now owns 9,338 shares of the construction company's stock worth $1,423,000 after acquiring an additional 91 shares during the period. Federated Hermes Inc. grew its position in shares of Dycom Industries by 27.1% in the first quarter. Federated Hermes Inc. now owns 492 shares of the construction company's stock valued at $75,000 after purchasing an additional 105 shares in the last quarter. Xponance Inc. grew its position in shares of Dycom Industries by 5.7% in the first quarter. Xponance Inc. now owns 2,163 shares of the construction company's stock valued at $330,000 after purchasing an additional 116 shares in the last quarter. Brevan Howard Capital Management LP grew its position in shares of Dycom Industries by 2.9% in the fourth quarter. Brevan Howard Capital Management LP now owns 5,026 shares of the construction company's stock valued at $875,000 after purchasing an additional 140 shares in the last quarter. Finally, Versant Capital Management Inc purchased a new position in shares of Dycom Industries in the first quarter valued at $28,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DY has been the subject of several recent research reports. Wall Street Zen upgraded Dycom Industries from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Raymond James Financial upped their target price on shares of Dycom Industries from $290.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, August 21st. UBS Group upped their target price on shares of Dycom Industries from $288.00 to $296.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. JPMorgan Chase & Co. upped their target price on shares of Dycom Industries from $250.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Finally, Wells Fargo & Company upped their target price on shares of Dycom Industries from $250.00 to $295.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $289.43.

Dycom Industries Price Performance

Shares of NYSE:DY traded down $5.60 during trading on Friday, reaching $248.40. The company had a trading volume of 358,040 shares, compared to its average volume of 480,148. The company has a fifty day moving average of $259.30 and a two-hundred day moving average of $209.81. The stock has a market capitalization of $7.19 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18. Dycom Industries, Inc. has a 12 month low of $131.37 and a 12 month high of $285.64. The company has a current ratio of 3.16, a quick ratio of 2.96 and a debt-to-equity ratio of 0.74.

Dycom Industries (NYSE:DY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The construction company reported $3.33 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.41. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.41 billion. Dycom Industries had a net margin of 5.23% and a return on equity of 21.17%. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter 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. Equities research analysts forecast that Dycom Industries, Inc. will post 7.13 earnings per share for the current 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.