OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 2,656 Dycom Industries, Inc. $DY

Key Points

• Oversea Chinese Banking Corp Ltd acquired 2,656 Dycom Industries shares worth approximately $1.34 million in the second quarter. Institutional investors and hedge funds collectively own 98.33% of Dycom’s stock.
• Dycom reported strong quarterly results, with earnings per share of $4.42 versus the $2.73 analyst consensus and revenue of $1.96 billion, up 56.1% year over year.
• Despite shares opening at $393.24, analysts remain broadly bullish: 11 rate the stock a Buy and one a Hold, with a consensus “Moderate Buy” rating and an average price target of $578.09.

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Dycom Industries, Inc. (NYSE:DY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,656 shares of the construction company's stock, valued at approximately $1,343,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of Dycom Industries by 265,593,055.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company's stock worth $8,076,953,000 after buying an additional 23,903,375 shares during the period. Peconic Partners LLC lifted its stake in Dycom Industries by 2.8% in the second quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company's stock worth $933,038,000 after acquiring an additional 105,586 shares during the last quarter. BlackRock Inc. purchased a new position in Dycom Industries in the second quarter worth approximately $1,513,523,000. First Trust Advisors LP grew its holdings in Dycom Industries by 27.8% during the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company's stock worth $270,615,000 after acquiring an additional 173,528 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Dycom Industries by 8.0% during 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 in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Stock Down 1.7%

Shares of NYSE:DY opened at $393.24 on Friday. The firm has a 50 day simple moving average of $431.31 and a 200-day simple moving average of $415.56. Dycom Industries, Inc. has a twelve month low of $242.55 and a twelve month high of $566.47. The company has a current ratio of 2.58, a quick ratio of 2.46 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $11.81 billion, a PE ratio of 37.42, a P/E/G ratio of 0.71 and a beta of 1.54.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DY shares. Cantor Fitzgerald raised their price objective on shares of Dycom Industries from $436.00 to $654.00 and gave the company an "overweight" rating in a report on Friday, May 29th. Wells Fargo & Company boosted their target price on shares of Dycom Industries from $500.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Zacks Research lowered Dycom Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Guggenheim raised their price target on Dycom Industries from $575.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Finally, Weiss Ratings raised Dycom Industries from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 13th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $578.09.

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.

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