Dycom Industries, Inc. $DY Stock Position Raised by Bank of America Corp DE

Key Points

• Bank of America increased its Dycom Industries stake by 6.1% in the first quarter, holding 445,830 shares valued at approximately $151.1 million. Institutional investors and hedge funds collectively own 98.33% of the company.
• Dycom reported quarterly EPS of $4.42, exceeding the $2.73 analyst consensus, while revenue rose 56.1% year over year to $1.96 billion. The company issued second-quarter fiscal 2027 EPS guidance of $4.40–$4.82.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and average price target of $554.92; KeyCorp and JPMorgan recently raised their targets to $610 and $650, respectively.

Bank of America Corp DE grew its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 445,830 shares of the construction company's stock after purchasing an additional 25,564 shares during the quarter. Bank of America Corp DE owned approximately 1.49% of Dycom Industries worth $151,056,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wilson Asset Management International PTY Ltd. purchased a new stake in shares of Dycom Industries in the fourth quarter worth approximately $1,014,000. Norges Bank bought a new stake in Dycom Industries in the fourth quarter worth $19,335,000. Horizon Investments LLC increased its holdings in shares of Dycom Industries by 43.0% during the 4th quarter. Horizon Investments LLC now owns 16,907 shares of the construction company's stock valued at $5,713,000 after acquiring an additional 5,086 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in Dycom Industries by 82,666.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 24,830 shares of the construction company's stock valued at $8,390,000 after purchasing an additional 24,800 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Dycom Industries by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company's stock worth $245,771,000 after acquiring an additional 53,993 shares during the period. Institutional investors and hedge funds own 98.33% of the company's stock.

Dycom Industries Stock Performance

Shares of Dycom Industries stock opened at $408.62 on Thursday. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.58 and a quick ratio of 2.46. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 38.88, a price-to-earnings-growth ratio of 0.73 and a beta of 1.54. The stock's 50-day moving average is $448.60 and its 200-day moving average is $412.72. Dycom Industries, Inc. has a one year low of $233.00 and a one year high of $566.47.

Dycom Industries (NYSE:DY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The construction company reported $4.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.73 by $1.69. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.67 billion. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.Dycom Industries's quarterly revenue was up 56.1% on a year-over-year basis. During the same period last year, the company earned $2.09 earnings per share. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. Equities analysts predict that Dycom Industries, Inc. will post 15.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on DY shares. KeyCorp boosted their target price on shares of Dycom Industries from $482.00 to $610.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. JPMorgan Chase & Co. raised their target price on Dycom Industries from $415.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 28th. UBS Group restated a "buy" rating on shares of Dycom Industries in a research report on Friday, July 24th. Wall Street Zen cut Dycom Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. Finally, Weiss Ratings cut shares of Dycom Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Dycom Industries currently has a consensus rating of "Buy" and an average target price of $554.92.

Dycom Industries Company Profile

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.

Want to see what other hedge funds are holding DY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dycom Industries, Inc. (NYSE:DY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source