Royal Bank of Canada Buys 7,452 Shares of Dycom Industries, Inc. $DY

Key Points

• Royal Bank of Canada increased its Dycom Industries stake by 50.1% in the first quarter, buying 7,452 shares to own 22,327 shares valued at approximately $7.6 million. Institutional investors collectively own 98.33% of the company.
• Analysts remain broadly bullish on Dycom, with an average rating of “Buy” and a consensus price target of $554.92; several firms recently raised their targets to between $610 and $654.
• Dycom reported quarterly earnings of $4.42 per share, beating estimates of $2.73, while revenue rose 56.1% year over year to $1.96 billion. Shares opened at $401.91, down 1.5%.

Royal Bank of Canada increased its stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) by 50.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 22,327 shares of the construction company's stock after purchasing an additional 7,452 shares during the period. Royal Bank of Canada owned 0.07% of Dycom Industries worth $7,566,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in 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 grew 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 acquiring an additional 105,586 shares in the last quarter. First Trust Advisors LP grew its stake in Dycom Industries by 27.8% during the first quarter. First Trust Advisors LP now owns 798,699 shares of the construction company's stock valued at $270,615,000 after acquiring an additional 173,528 shares in the last quarter. Geode Capital Management LLC increased 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 during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Dycom Industries by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 558,519 shares of the construction company's stock worth $188,725,000 after purchasing an additional 110,065 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Wall Street Analyst Weigh In

DY has been the subject of several analyst reports. Zacks Research downgraded shares of Dycom Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Wells Fargo & Company increased their price objective on Dycom Industries from $500.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 28th. KeyCorp lifted their price objective on Dycom Industries from $482.00 to $610.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Guggenheim boosted their target price on Dycom Industries from $575.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Finally, Wedbush set a $654.00 target price on Dycom Industries in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Dycom Industries currently has an average rating of "Buy" and a consensus price target of $554.92.

Dycom Industries Stock Down 1.5%

Shares of NYSE:DY opened at $401.91 on Tuesday. Dycom Industries, Inc. has a 52-week low of $233.00 and a 52-week high of $566.47. The firm has a fifty day moving average of $441.95 and a 200 day moving average of $413.42. The firm has a market capitalization of $12.07 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 0.72 and a beta of 1.54. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.46 and a current ratio of 2.58.

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

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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