Cresset Asset Management LLC Sells 219,399 Shares of Dycom Industries, Inc. $DY

Key Points

• Cresset Asset Management LLC significantly reduced its stake in Dycom Industries by 95.9% during the first quarter, holding only 9,455 shares after selling 219,399 shares.
• Despite recent stock fluctuations, Dycom Industries reported strong earnings, with a Q2 EPS of $3.33, exceeding analysts' expectations by $0.41.
• Major analysts have raised their price targets for Dycom Industries, with KeyCorp increasing it from $255 to $295, reflecting a positive outlook on the company's performance.

Cresset Asset Management LLC lowered its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 95.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,455 shares of the construction company's stock after selling 219,399 shares during the quarter. Cresset Asset Management LLC's holdings in Dycom Industries were worth $1,440,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Aberdeen Group plc grew its holdings in Dycom Industries by 5.3% during the first quarter. Aberdeen Group plc now owns 25,900 shares of the construction company's stock worth $3,946,000 after buying an additional 1,300 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Dycom Industries by 370.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 607 shares of the construction company's stock worth $92,000 after buying an additional 478 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Dycom Industries by 13.7% during the first quarter. Russell Investments Group Ltd. now owns 24,012 shares of the construction company's stock worth $3,658,000 after buying an additional 2,897 shares in the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. grew its holdings in Dycom Industries by 3,536.4% during the first quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. now owns 4,000 shares of the construction company's stock worth $609,000 after buying an additional 3,890 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Dycom Industries by 27.7% during the first quarter. Public Sector Pension Investment Board now owns 92,567 shares of the construction company's stock worth $14,102,000 after buying an additional 20,101 shares in the last quarter. Institutional investors own 98.33% of the company's stock.

Dycom Industries Stock Performance

Shares of DY stock traded up $3.53 on Tuesday, hitting $257.09. 446,063 shares of the stock were exchanged, compared to its average volume of 438,781. The company has a current ratio of 3.16, a quick ratio of 2.96 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $7.44 billion, a PE ratio of 28.89, a P/E/G ratio of 1.25 and a beta of 1.34. Dycom Industries, Inc. has a one year low of $131.37 and a one year high of $285.64. The firm's 50 day moving average is $256.90 and its two-hundred day moving average is $206.11.

Dycom Industries (NYSE:DY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The construction company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.41. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. Dycom Industries had a return on equity of 21.17% and a net margin of 5.23%.The firm's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 EPS. Dycom Industries has set its FY 2026 guidance at EPS. Q3 2026 guidance at 3.030-3.36 EPS. Sell-side analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DY. B. Riley upped their price target on Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. UBS Group upped their price target on Dycom Industries from $288.00 to $296.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Raymond James Financial increased their price target on Dycom Industries from $290.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. increased their price target on Dycom Industries from $250.00 to $275.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Finally, KeyCorp upped their price objective on Dycom Industries from $255.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One 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 stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $289.43.

About Dycom Industries

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.