State of Michigan Retirement System Invests $2.30 Million in Dycom Industries, Inc. $DY

Key Points

• State of Michigan Retirement System bought a new stake of 6,800 shares in Dycom during Q4, valued at approximately $2.30 million.
• Dycom holds a consensus Buy rating (1 Strong Buy, 11 Buy, 1 Hold) with an average price target of $431.64 and recent upgrades including BofA raising its target to $475 and JPMorgan to $415.
• The company beat Q4 estimates with $2.03 EPS versus $1.91 expected and revenue of $1.46B (up 34.4% YoY), and issued Q1 guidance of $2.57–$2.90 EPS while analysts expect FY EPS of 12.88.

State of Michigan Retirement System bought a new stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,800 shares of the construction company's stock, valued at approximately $2,298,000.

Other large investors have also modified their holdings of the company. Sound Income Strategies LLC purchased a new stake in shares of Dycom Industries during the fourth quarter worth about $32,000. Root Financial Partners LLC acquired a new position in Dycom Industries in the 3rd quarter valued at about $26,000. Optiver Holding B.V. lifted its holdings in shares of Dycom Industries by 57.1% in the 3rd quarter. Optiver Holding B.V. now owns 110 shares of the construction company's stock worth $32,000 after acquiring an additional 40 shares during the last quarter. CI Investments Inc. lifted its holdings in shares of Dycom Industries by 259.4% in the 3rd quarter. CI Investments Inc. now owns 115 shares of the construction company's stock worth $34,000 after acquiring an additional 83 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in Dycom Industries during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 98.33% of the company's stock.

Wall Street Analysts Forecast Growth

DY has been the subject of a number of analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Dycom Industries in a research note on Wednesday, January 21st. Bank of America increased their price target on shares of Dycom Industries from $365.00 to $475.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Zacks Research upgraded shares of Dycom Industries from a "strong sell" rating to a "hold" rating in a research note on Monday, April 6th. JPMorgan Chase & Co. lifted their target price on shares of Dycom Industries from $395.00 to $415.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. Finally, Wall Street Zen lowered shares of Dycom Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 7th. One 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's stock. Based on data from MarketBeat, Dycom Industries presently has a consensus rating of "Buy" and an average price target of $431.64.

Dycom Industries Stock Performance

NYSE:DY opened at $432.41 on Friday. Dycom Industries, Inc. has a 1-year low of $177.27 and a 1-year high of $445.52. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.74 and a quick ratio of 2.61. The stock has a market cap of $12.98 billion, a P/E ratio of 45.04, a PEG ratio of 0.95 and a beta of 1.46. The firm has a 50-day moving average of $380.17 and a two-hundred day moving average of $355.52.

Dycom Industries (NYSE:DY - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The construction company reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.91 by $0.12. Dycom Industries had a net margin of 5.07% and a return on equity of 21.77%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the firm posted $1.17 EPS. The firm'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, research analysts expect that Dycom Industries, Inc. will post 12.88 earnings per share 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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