SIR Capital Management L.P. Acquires New Position in Dycom Industries, Inc. $DY

Key Points

• SIR Capital Management initiated a position in Dycom Industries during the second quarter, purchasing 13,377 shares valued at approximately $6.76 million. Institutional investors collectively own 98.33% of the company.
• Analysts remain broadly bullish, with 11 Buy ratings and one Hold rating. Dycom has an average “Moderate Buy” rating and a consensus price target of $578.09.
• Dycom reported strong quarterly results, posting $4.42 in earnings per share versus the $2.73 consensus estimate and $1.96 billion in revenue, up 56.1% year over year.

SIR Capital Management L.P. bought a new position in Dycom Industries, Inc. (NYSE:DY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 13,377 shares of the construction company's stock, valued at approximately $6,763,000.

Several other hedge funds and other institutional investors have also bought and sold shares of DY. Kemnay Advisory Services Inc. bought a new stake in shares of Dycom Industries in the 4th quarter worth approximately $30,000. Allworth Financial LP bought a new position in shares of Dycom Industries during the 2nd quarter valued at $35,000. Acumen Wealth Advisors LLC bought a new position in shares of Dycom Industries during the 4th quarter valued at $35,000. Legacy Wealth Managment LLC ID purchased a new position in Dycom Industries in the 4th quarter worth $39,000. Finally, EverSource Wealth Advisors LLC raised its position in Dycom Industries by 73.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company's stock worth $39,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 98.33% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target 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. Weiss Ratings upgraded Dycom Industries from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 13th. Wedbush set a $654.00 target price on Dycom Industries in a report on Friday, May 29th. UBS Group restated a "buy" rating on shares of Dycom Industries in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on Dycom Industries from $415.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $578.09.

Dycom Industries Price Performance

DY stock opened at $381.76 on Tuesday. The firm's 50-day moving average price is $429.52 and its two-hundred day moving average price is $415.72. Dycom Industries, Inc. has a 12-month low of $242.55 and a 12-month high of $566.47. The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 0.69 and a beta of 1.54. 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 (NYSE:DY - Get Free Report) last posted its earnings results on Wednesday, May 27th. The construction company reported $4.42 earnings per share for the quarter, topping analysts' consensus estimates of $2.73 by $1.69. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.67 billion. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. Dycom Industries's revenue for the quarter was up 56.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.09 earnings per share. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. As a group, equities analysts predict that Dycom Industries, Inc. will post 15.45 earnings per share 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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