Peregrine Capital Management LLC Cuts Position in Dycom Industries, Inc. $DY

Key Points

• Peregrine Capital Management LLC cut its stake in Dycom Industries by 40.6% in Q4, selling 20,624 shares and now holds 30,179 shares (about 0.10% of the company) valued at roughly $10.2 million.
• Several large institutions—Peconic Partners, Millennium Management, Nordea and Bank of America—added to their Dycom positions, and institutional ownership of the stock is very high at 98.33%.
• Dycom reported a strong quarter (EPS $2.03 vs. $1.91 estimate; revenue up 34.4%), the stock trades near $416 with a $12.49B market cap, and analysts' consensus is a Buy with a $431.64 target and multiple raised price objectives.

Peregrine Capital Management LLC decreased its holdings in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 40.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,179 shares of the construction company's stock after selling 20,624 shares during the period. Peregrine Capital Management LLC owned 0.10% of Dycom Industries worth $10,197,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. 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 buying an additional 105,586 shares during the last quarter. Millennium Management LLC boosted its stake in Dycom Industries by 21.0% in the 3rd quarter. Millennium Management LLC now owns 1,324,938 shares of the construction company's stock worth $386,564,000 after purchasing an additional 229,579 shares in the last quarter. First Trust Advisors LP increased its stake in Dycom Industries by 6.8% during the 3rd 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. Nordea Investment Management AB raised its holdings in Dycom Industries by 5,603.6% in the fourth quarter. Nordea Investment Management AB now owns 405,580 shares of the construction company's stock worth $139,057,000 after buying an additional 398,469 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Dycom Industries by 15.2% during the third quarter. Bank of America Corp DE now owns 354,225 shares of the construction company's stock valued at $103,349,000 after buying an additional 46,680 shares during the last quarter. 98.33% of the stock is owned by institutional investors.

Dycom Industries Stock Performance

DY traded up $7.91 during mid-day trading on Thursday, reaching $415.96. 9,924 shares of the company traded hands, compared to its average volume of 402,971. The company's fifty day moving average price is $381.71 and its 200-day moving average price is $350.96. The stock has a market capitalization of $12.49 billion, a P/E ratio of 43.27, a P/E/G ratio of 0.93 and a beta of 1.38. The company has a quick ratio of 2.61, a current ratio of 2.74 and a debt-to-equity ratio of 1.51. Dycom Industries, Inc. has a 52-week low of $157.98 and a 52-week high of $445.52.

Dycom Industries (NYSE:DY - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The construction company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.91 by $0.12. Dycom Industries had a return on equity of 21.77% and a net margin of 5.07%.The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. Dycom Industries's revenue was up 34.4% compared to the same quarter last year. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. On average, sell-side analysts expect that Dycom Industries, Inc. will post 12.88 EPS for the current year.

Analyst Ratings Changes

DY has been the topic of several analyst reports. B. Riley Financial upped their price objective on Dycom Industries from $420.00 to $485.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. UBS Group set a $475.00 target price on Dycom Industries and gave the stock a "buy" rating in a report on Friday, March 6th. KeyCorp upped their price target on Dycom Industries from $426.00 to $482.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. Guggenheim started coverage on Dycom Industries in a research report on Thursday, January 22nd. They set a "buy" rating and a $510.00 price objective on the stock. Finally, Wall Street Zen downgraded Dycom Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $431.64.

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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