Caxton Associates LLP Buys 4,191 Shares of Dycom Industries, Inc. $DY

Key Points

• Caxton Associates LLP boosted its Dycom Industries stake by 298.1% in the first quarter, adding 4,191 shares to own 5,597 shares worth about $1.9 million.
• Wall Street sentiment on Dycom remains strongly positive, with multiple analysts raising price targets and the stock carrying an average “Buy” rating and a consensus target of $554.92.
• Dycom reported better-than-expected quarterly results, posting $4.42 EPS on revenue of $1.96 billion, while revenue jumped 56.1% year over year.

Caxton Associates LLP raised its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 298.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,597 shares of the construction company's stock after buying an additional 4,191 shares during the quarter. Caxton Associates LLP's holdings in Dycom Industries were worth $1,896,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DY. Kemnay Advisory Services Inc. bought a new position in Dycom Industries in the 4th quarter worth about $30,000. Sound Income Strategies LLC purchased a new position in Dycom Industries in the fourth quarter worth about $32,000. Acumen Wealth Advisors LLC bought a new position in shares of Dycom Industries in the fourth quarter worth approximately $35,000. Legacy Wealth Managment LLC ID purchased a new stake in shares of Dycom Industries during the fourth quarter valued at approximately $39,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Dycom Industries by 73.1% during the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company's stock valued at $39,000 after acquiring an additional 68 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Dycom Industries from $500.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. KeyCorp raised their price objective on shares of Dycom Industries from $482.00 to $610.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. UBS Group reiterated a "buy" rating on shares of Dycom Industries in a research report on Friday. B. Riley Financial boosted their price objective 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. Finally, JPMorgan Chase & Co. lifted 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. Two investment analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $554.92.

Dycom Industries Price Performance

Shares of Dycom Industries stock opened at $430.58 on Friday. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of 40.97, a PEG ratio of 0.76 and a beta of 1.50. The company has a quick ratio of 2.46, a current ratio of 2.58 and a debt-to-equity ratio of 1.48. The stock's 50-day simple moving average is $452.12 and its 200-day simple moving average is $409.13. Dycom Industries, Inc. has a 52 week low of $233.00 and a 52 week 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 (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter last year, the business posted $2.09 earnings per share. The firm's 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. As a group, analysts expect that Dycom Industries, Inc. will post 15.45 earnings per share for the current fiscal year.

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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