Millennium Management LLC Purchases 45,562 Shares of Dycom Industries, Inc. $DY

Key Points

• Millennium Management LLC has increased its stake in Dycom Industries to approximately $225.68 million, owning 1,481,394 shares after purchasing an additional 45,562 shares in Q1.
• Analysts have given Dycom Industries a generally positive outlook, with price target upgrades from firms like UBS Group and Wells Fargo, indicating a consensus price target of $289.43.
• Dycom Industries reported $3.33 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, and expects to post an EPS of 7.13 for the current fiscal year.

Millennium Management LLC lifted its holdings in Dycom Industries, Inc. (NYSE:DY - Free Report) by 3.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,481,394 shares of the construction company's stock after acquiring an additional 45,562 shares during the quarter. Millennium Management LLC owned 5.15% of Dycom Industries worth $225,676,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DY. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Dycom Industries by 851.6% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company's stock worth $72,459,000 after acquiring an additional 425,652 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Dycom Industries by 327.1% in the first quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company's stock worth $60,818,000 after buying an additional 305,755 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Dycom Industries by 261.6% in the fourth quarter. Point72 Asset Management L.P. now owns 224,277 shares of the construction company's stock worth $39,038,000 after buying an additional 162,262 shares during the period. Nuveen LLC purchased a new position in shares of Dycom Industries in the first quarter worth $21,451,000. Finally, Hill City Capital LP increased its stake in shares of Dycom Industries by 14.1% in the first quarter. Hill City Capital LP now owns 969,784 shares of the construction company's stock worth $147,737,000 after buying an additional 120,000 shares during the period. 98.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. B. Riley lifted their target price on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. UBS Group lifted their target price on shares of Dycom Industries from $288.00 to $296.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Wells Fargo & Company lifted their target price on shares of Dycom Industries from $250.00 to $295.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. DA Davidson lifted their target price on shares of Dycom Industries from $265.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Dycom Industries from $250.00 to $275.00 and gave the stock an "overweight" rating in a research note 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $289.43.

Dycom Industries Stock Up 3.4%

Shares of NYSE:DY traded up $8.69 during midday trading on Wednesday, reaching $260.70. The company's stock had a trading volume of 172,977 shares, compared to its average volume of 438,407. The firm has a 50 day moving average of $259.60 and a 200-day moving average of $210.93. The firm has a market capitalization of $7.55 billion, a P/E ratio of 29.28, a PEG ratio of 1.22 and a beta of 1.18. The company has a quick ratio of 2.96, a current ratio of 3.16 and a debt-to-equity ratio of 0.74. Dycom Industries, Inc. has a 12-month low of $131.37 and a 12-month high of $285.64.

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

Dycom Industries Profile

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.