Northern Trust Corp Sells 4,024 Shares of Dycom Industries, Inc. $DY

Key Points

• Northern Trust Corp has reduced its stake in Dycom Industries by 1.3%, now holding approximately 316,457 shares valued at $48.2 million.
• Several hedge funds significantly increased their positions in Dycom Industries, with OVERSEA CHINESE BANKING Corp Ltd boosting its stake by 851.6% during the same period.
• Dycom Industries reported $3.33 earnings per share for the most recent quarter, exceeding the consensus estimate of $2.92, while quarterly revenue showed a 14.5% year-over-year increase.

Northern Trust Corp cut its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 316,457 shares of the construction company's stock after selling 4,024 shares during the quarter. Northern Trust Corp owned about 1.10% of Dycom Industries worth $48,209,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. KBC Group NV lifted its holdings in shares of Dycom Industries by 18.9% during the first quarter. KBC Group NV now owns 1,443 shares of the construction company's stock worth $220,000 after buying an additional 229 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Dycom Industries during the first quarter worth approximately $342,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Dycom Industries by 105.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the construction company's stock worth $194,000 after buying an additional 572 shares during the last quarter. J. Goldman & Co LP lifted its holdings in shares of Dycom Industries by 25.4% during the fourth quarter. J. Goldman & Co LP now owns 90,253 shares of the construction company's stock worth $15,709,000 after buying an additional 18,289 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Dycom Industries by 27.1% during the first quarter. Federated Hermes Inc. now owns 492 shares of the construction company's stock worth $75,000 after buying an additional 105 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DY shares. JPMorgan Chase & Co. upped their price target on Dycom Industries from $250.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Wall Street Zen upgraded Dycom Industries from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. B. Riley upped their target price on Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. KeyCorp upped their target price on Dycom Industries from $255.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Raymond James Financial upped their target price on Dycom Industries from $290.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Dycom Industries presently has an average rating of "Buy" and a consensus price target of $289.43.

Dycom Industries Stock Performance

Shares of NYSE DY traded down $6.88 during trading hours on Tuesday, reaching $245.60. The stock had a trading volume of 80,245 shares, compared to its average volume of 438,468. The business's fifty day moving average is $258.58 and its two-hundred day moving average is $208.04. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.16 and a quick ratio of 2.96. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 1.22 and a beta of 1.18. Dycom Industries, Inc. has a twelve month low of $131.37 and a twelve month high of $285.64.

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

About Dycom Industries

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.