Dycom Industries, Inc. $DY Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its position in Dycom Industries by 56.8%, now holding 172,368 shares valued at approximately $42.1 million.
• Several large institutional investors significantly increased their holdings in Dycom, including OVERSEA CHINESE BANKING Corp Ltd with an 851.6% increase, now owning 475,637 shares.
• Analysts are optimistic about Dycom's future, with multiple firms raising their price targets, resulting in a consensus rating of "Buy" and a consensus price target of $289.43.

Assenagon Asset Management S.A. lessened its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 56.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 172,368 shares of the construction company's stock after selling 226,858 shares during the period. Assenagon Asset Management S.A. owned approximately 0.60% of Dycom Industries worth $42,125,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DY. Versant Capital Management Inc acquired a new stake in shares of Dycom Industries in the first quarter valued at about $28,000. AlphaQuest LLC purchased a new position in Dycom Industries in the 1st quarter valued at about $37,000. Federated Hermes Inc. lifted its stake in Dycom Industries by 27.1% in the 1st quarter. Federated Hermes Inc. now owns 492 shares of the construction company's stock valued at $75,000 after buying an additional 105 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Dycom Industries by 370.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 607 shares of the construction company's stock valued at $92,000 after buying an additional 478 shares in the last quarter. Finally, Archer Investment Corp purchased a new position in Dycom Industries in the 1st quarter valued at about $99,000. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Trading Up 4.5%

Shares of NYSE DY traded up $12.19 on Monday, reaching $281.77. 446,291 shares of the company traded hands, compared to its average volume of 371,724. Dycom Industries, Inc. has a fifty-two week low of $131.37 and a fifty-two week high of $285.64. The company has a 50 day moving average of $261.80 and a 200 day moving average of $217.93. 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 stock has a market capitalization of $8.16 billion, a PE ratio of 31.66, a P/E/G ratio of 1.29 and a beta of 1.18.

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

Analyst Ratings Changes

DY has been the subject of a number of recent research reports. Zacks Research upgraded shares of Dycom Industries to a "hold" rating in a research report on Monday, August 11th. KeyCorp raised their target price on shares of Dycom Industries from $255.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Wall Street Zen raised shares of Dycom Industries from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. DA Davidson lifted their price objective on shares of Dycom Industries from $265.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Finally, 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 research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target 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.