Dycom Industries, Inc. $DY Shares Acquired by Millennium Management LLC

Key Points

• Millennium Management raised its stake in Dycom by 21% to 1,324,938 shares (about 4.58% ownership), a holding worth roughly $386.6 million and the firm's 20th largest position.
• Quarterly results beat expectations: Dycom reported $2.03 EPS vs. $1.91 expected and $1.46 billion in revenue (up 34.4% year-over-year), and provided Q1 2027 guidance of $2.57–$2.90 per share.
• Analyst sentiment is largely bullish after several price-target increases (Bank of America $475, KeyCorp $482, B. Riley $485), leaving a consensus "Moderate Buy" rating with an average target of about $431.64.

Millennium Management LLC lifted its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 21.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,324,938 shares of the construction company's stock after buying an additional 229,579 shares during the period. Dycom Industries makes up 0.2% of Millennium Management LLC's investment portfolio, making the stock its 20th largest holding. Millennium Management LLC owned about 4.58% of Dycom Industries worth $386,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Root Financial Partners LLC acquired a new position in Dycom Industries in the third quarter valued at $26,000. Optiver Holding B.V. increased its position in shares of Dycom Industries by 57.1% during the third quarter. Optiver Holding B.V. now owns 110 shares of the construction company's stock worth $32,000 after purchasing an additional 40 shares in the last quarter. CI Investments Inc. increased its position in shares of Dycom Industries by 259.4% during the third quarter. CI Investments Inc. now owns 115 shares of the construction company's stock worth $34,000 after purchasing an additional 83 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of Dycom Industries in the 3rd quarter valued at about $37,000. Finally, UMB Bank n.a. lifted its holdings in shares of Dycom Industries by 57.3% in the 3rd quarter. UMB Bank n.a. now owns 129 shares of the construction company's stock valued at $38,000 after purchasing an additional 47 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DY has been the topic of a number of research reports. Bank of America raised their price target on Dycom Industries from $365.00 to $475.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. KeyCorp boosted their price objective on Dycom Industries from $426.00 to $482.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. Zacks Research lowered shares of Dycom Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 17th. Wells Fargo & Company lifted their target price on shares of Dycom Industries from $315.00 to $360.00 and gave the company an "overweight" rating in a report on Thursday, November 20th. Finally, B. Riley Financial upped their price target on shares of Dycom Industries from $420.00 to $485.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $431.64.

Dycom Industries Stock Up 3.3%

Dycom Industries stock opened at $358.62 on Tuesday. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $445.52. The stock has a 50 day moving average of $384.25 and a two-hundred day moving average of $332.49. The company has a current ratio of 2.74, a quick ratio of 2.61 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $10.75 billion, a price-to-earnings ratio of 37.36 and a beta of 1.34.

Dycom Industries (NYSE:DY - Get Free Report) last released its earnings results on Wednesday, March 4th. The construction company reported $2.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.12. Dycom Industries had a return on equity of 21.77% and a net margin of 5.07%.The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The company's revenue for the quarter was up 34.4% compared to the same quarter last year. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. As a group, research analysts expect that Dycom Industries, Inc. will post 7.13 earnings per share for the current year.

Insiders Place Their Bets

In other Dycom Industries news, Director Eitan Gertel sold 3,645 shares of the business's stock in a transaction on Friday, January 9th. The shares were sold at an average price of $345.62, for a total value of $1,259,784.90. Following the transaction, the director directly owned 15,997 shares of the company's stock, valued at approximately $5,528,883.14. The trade was a 18.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.72% of the stock is currently owned by company insiders.

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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