Hennessy Advisors Inc. Has $53.59 Million Holdings in Dycom Industries, Inc. $DY

Key Points

• Hennessy Advisors trimmed its position by 5.3% in Q4 to 158,600 shares, still holding about $53.59 million of Dycom stock, which is its second-largest holding and represents roughly 0.55% of Dycom.
• Dycom is overwhelmingly institutionally owned (about 98.33%), with large recent inflows from firms such as Nordea (up to 405,580 shares) and Millennium (1,324,938 shares).
• Analysts are largely bullish (average rating “Buy” and average target $431.64) after Dycom beat Q4 estimates (EPS $2.03 vs. $1.91 and revenue +34.4% Y/Y); the stock trades near $400 with a 52-week high of $445.52.

Hennessy Advisors Inc. trimmed its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,600 shares of the construction company's stock after selling 8,900 shares during the quarter. Dycom Industries makes up approximately 1.9% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 2nd biggest holding. Hennessy Advisors Inc. owned about 0.55% of Dycom Industries worth $53,591,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DY. Nordea Investment Management AB increased its holdings in Dycom Industries by 5,603.6% during the fourth quarter. Nordea Investment Management AB now owns 405,580 shares of the construction company's stock valued at $139,057,000 after buying an additional 398,469 shares during the period. Millennium Management LLC increased its holdings in Dycom Industries by 21.0% during the third quarter. Millennium Management LLC now owns 1,324,938 shares of the construction company's stock valued at $386,564,000 after buying an additional 229,579 shares during the period. Alyeska Investment Group L.P. purchased a new position in Dycom Industries during the third quarter valued at approximately $44,553,000. Bornite Capital Management LP purchased a new position in Dycom Industries during the third quarter valued at approximately $43,764,000. Finally, Cartenna Capital LP bought a new stake in Dycom Industries during the third quarter valued at about $40,846,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group set a $475.00 target price on shares of Dycom Industries and gave the company a "buy" rating in a research report on Friday, March 6th. JPMorgan Chase & Co. raised their price target on shares of Dycom Industries from $395.00 to $415.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. B. Riley Financial lifted their price target on Dycom Industries from $420.00 to $485.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. Guggenheim assumed coverage on Dycom Industries in a research report on Thursday, January 22nd. They issued a "buy" rating and a $510.00 target price on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $436.00 price target on shares of Dycom Industries in a research report on Friday, March 27th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $431.64.

Dycom Industries Stock Performance

NYSE:DY opened at $400.36 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.61 and a current ratio of 2.74. The stock has a market capitalization of $12.02 billion, a P/E ratio of 41.70, a PEG ratio of 0.92 and a beta of 1.38. The company has a 50 day moving average price of $382.38 and a 200 day moving average price of $348.90. Dycom Industries, Inc. has a fifty-two week low of $149.38 and a fifty-two week high of $445.52.

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