Sei Investments Co. Cuts Holdings in Dycom Industries, Inc. $DY

Key Points

• Sei Investments reduced its Dycom Industries stake by 33.1% in the first quarter, selling 16,933 shares and retaining 34,244 shares worth approximately $11.6 million. Institutional investors still own 98.33% of the company.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $554.92; Wells Fargo and KeyCorp recently raised their targets to $650 and $610, respectively.
• Dycom reported a strong quarter, posting $4.42 in EPS versus the $2.73 consensus and revenue of $1.96 billion, up 56.1% year over year. Shares opened at $400.32, compared with a 12-month high of $566.47.

Sei Investments Co. reduced its position in Dycom Industries, Inc. (NYSE:DY - Free Report) by 33.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,244 shares of the construction company's stock after selling 16,933 shares during the period. Sei Investments Co. owned 0.11% of Dycom Industries worth $11,603,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lido Advisors LLC grew its holdings in Dycom Industries by 8.7% during the 1st quarter. Lido Advisors LLC now owns 762 shares of the construction company's stock valued at $258,000 after buying an additional 61 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Dycom Industries by 32.4% during the 1st quarter. Cetera Investment Advisers now owns 5,671 shares of the construction company's stock valued at $1,921,000 after acquiring an additional 1,389 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Dycom Industries by 27.8% in the first quarter. First Trust Advisors LP now owns 798,699 shares of the construction company's stock valued at $270,615,000 after purchasing an additional 173,528 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Dycom Industries by 13.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,032 shares of the construction company's stock worth $688,000 after purchasing an additional 241 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID increased its position in Dycom Industries by 30.4% in the first quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company's stock worth $51,000 after purchasing an additional 35 shares during the last quarter. 98.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Dycom Industries from $500.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 28th. UBS Group restated a "buy" rating on shares of Dycom Industries in a report on Friday, July 24th. Weiss Ratings cut shares of Dycom Industries from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday. Wedbush set a $654.00 price target on shares of Dycom Industries in a report on Friday, May 29th. Finally, KeyCorp boosted their price objective on Dycom Industries from $482.00 to $610.00 and gave the stock an "overweight" rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $554.92.

Dycom Industries Price Performance

Dycom Industries stock opened at $400.32 on Friday. The firm has a 50-day moving average price of $450.97 and a 200-day moving average price of $411.10. The firm has a market capitalization of $12.02 billion, a PE ratio of 38.09, a price-to-earnings-growth ratio of 0.74 and a beta of 1.50. The company has a current ratio of 2.58, a quick ratio of 2.46 and a debt-to-equity ratio of 1.48. Dycom Industries, Inc. has a 12-month low of $233.00 and a 12-month high of $566.47.

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

Want to see what other hedge funds are holding DY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dycom Industries, Inc. (NYSE:DY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.