Penn Capital Management Company LLC Lowers Position in Dycom Industries, Inc. $DY

Key Points

• Penn Capital Management cut its Dycom Industries stake by 39% in the fourth quarter, though it still held 52,521 shares valued at about $17.8 million.
• Dycom remains heavily institutionally owned, with hedge funds and other institutional investors controlling 98.33% of the stock.
• Analysts remain broadly positive on DY: the stock has a Buy consensus rating and an average price target of $431.64, while the company also recently beat quarterly earnings and revenue estimates.

Penn Capital Management Company LLC lessened its stake in Dycom Industries, Inc. (NYSE:DY - Free Report) by 39.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,521 shares of the construction company's stock after selling 33,623 shares during the quarter. Dycom Industries makes up about 1.4% of Penn Capital Management Company LLC's investment portfolio, making the stock its 17th largest position. Penn Capital Management Company LLC owned about 0.18% of Dycom Industries worth $17,766,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Dycom Industries by 265,593,055.6% in 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 in the last quarter. Peconic Partners LLC raised its stake in Dycom Industries by 2.8% during the second quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company's stock valued at $933,038,000 after purchasing an additional 105,586 shares in the last quarter. Millennium Management LLC raised its stake 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 purchasing an additional 229,579 shares in the last quarter. First Trust Advisors LP raised its stake in Dycom Industries by 6.8% during the third quarter. First Trust Advisors LP now owns 604,865 shares of the construction company's stock valued at $176,475,000 after purchasing an additional 38,472 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake 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 purchasing an additional 398,469 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DY shares. JPMorgan Chase & Co. upped their price target on shares of Dycom Industries from $395.00 to $415.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. Wall Street Zen downgraded shares of Dycom Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. Bank of America upped their price target on shares of Dycom Industries from $365.00 to $475.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Weiss Ratings downgraded shares of Dycom Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, May 13th. Finally, B. Riley Financial upped their price target on shares of Dycom Industries from $420.00 to $485.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Dycom Industries has a consensus rating of "Buy" and an average target price of $431.64.

Dycom Industries Trading Up 2.5%

Shares of DY opened at $421.68 on Wednesday. Dycom Industries, Inc. has a twelve month low of $223.19 and a twelve month high of $464.82. The company has a market cap of $12.66 billion, a P/E ratio of 43.93, a P/E/G ratio of 0.94 and a beta of 1.46. The company has a current ratio of 2.74, a quick ratio of 2.61 and a debt-to-equity ratio of 1.51. The company's fifty day simple moving average is $392.07 and its 200-day simple moving average is $372.25.

Dycom Industries (NYSE:DY - Get Free Report) last announced its earnings results on Wednesday, March 4th. The construction company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.12. Dycom Industries had a net margin of 5.07% and a return on equity of 21.77%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The business's revenue for the quarter was up 34.4% on a year-over-year basis. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. As a group, analysts expect that Dycom Industries, Inc. will post 12.89 EPS for the current year.

Dycom Industries 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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