Dycom Industries, Inc. $DY Shares Sold by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC has reduced its stake in Dycom Industries by 33.5%, selling 2,968 shares and holding 5,901 shares valued at approximately $1.48 million after the sale.
• Dycom Industries reported strong quarterly earnings, with $3.33 earnings per share, exceeding analysts' estimates of $2.92, while revenue increased by 14.5% year-over-year.
• Analysts have shown confidence in Dycom Industries, with multiple price target upgrades, pushing the consensus price target to $289.43 and emphasizing a "buy" rating.

NorthCrest Asset Manangement LLC cut its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 33.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,901 shares of the construction company's stock after selling 2,968 shares during the period. NorthCrest Asset Manangement LLC's holdings in Dycom Industries were worth $1,477,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DY. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Dycom Industries by 851.6% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company's stock valued at $72,459,000 after buying an additional 425,652 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Dycom Industries by 327.1% during the first quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company's stock valued at $60,818,000 after buying an additional 305,755 shares in the last quarter. Nuveen LLC acquired a new position in Dycom Industries during the first quarter valued at approximately $21,451,000. Voya Investment Management LLC lifted its position in Dycom Industries by 1,432.2% during the first quarter. Voya Investment Management LLC now owns 144,883 shares of the construction company's stock valued at $22,071,000 after buying an additional 135,427 shares in the last quarter. Finally, Hill City Capital LP lifted its position in Dycom Industries by 14.1% during the first quarter. Hill City Capital LP now owns 969,784 shares of the construction company's stock valued at $147,737,000 after buying an additional 120,000 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Stock Performance

DY stock traded up $0.80 during trading on Tuesday, hitting $281.94. 68,605 shares of the company's stock traded hands, compared to its average volume of 435,091. 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 52 week low of $131.37 and a 52 week high of $285.64. The stock has a fifty day moving average price of $261.80 and a two-hundred day moving average price of $217.93. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.18.

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, beating the consensus estimate of $2.92 by $0.41. Dycom Industries had a net margin of 5.23% and a return on equity of 21.17%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The firm's revenue for the quarter was up 14.5% compared to the same quarter last year. Dycom Industries has set its FY 2026 guidance at EPS. Q3 2026 guidance at 3.030-3.36 EPS. As a group, equities analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DY shares. KeyCorp boosted their target price on shares of Dycom Industries from $255.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Dycom Industries from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. UBS Group boosted their target price on shares of Dycom Industries from $288.00 to $296.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Raymond James Financial boosted their target price on shares of Dycom Industries from $290.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 21st. Finally, DA Davidson boosted their target price on shares of Dycom Industries from $265.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $289.43.

Dycom Industries Company 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.