United Services Automobile Association Buys New Stake in Dycom Industries, Inc. $DY

Key Points

• United Services Automobile Association has acquired a new stake in Dycom Industries, purchasing 1,943 shares valued at approximately $299,000 during the first quarter of 2023.
• Dycom Industries reported an earnings per share of $3.33 for the most recent quarter, exceeding analysts' expectations by $0.41 and indicating a 14.5% increase in revenue year-over-year.
• Brokerage firms have shown increased confidence in Dycom Industries, with target price upgrades from UBS Group and others, resulting in an average rating of "Buy" and a consensus price target of $289.43.

United Services Automobile Association acquired a new stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,943 shares of the construction company's stock, valued at approximately $299,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. CW Advisors LLC increased its position in Dycom Industries by 1.0% during the 1st quarter. CW Advisors LLC now owns 9,338 shares of the construction company's stock valued at $1,423,000 after purchasing an additional 91 shares during the period. Federated Hermes Inc. grew its position in Dycom Industries by 27.1% during the 1st quarter. Federated Hermes Inc. now owns 492 shares of the construction company's stock valued at $75,000 after purchasing an additional 105 shares during the last quarter. Xponance Inc. grew its position in Dycom Industries by 5.7% during the 1st quarter. Xponance Inc. now owns 2,163 shares of the construction company's stock valued at $330,000 after purchasing an additional 116 shares during the last quarter. Versant Capital Management Inc purchased a new stake in Dycom Industries during the 1st quarter valued at about $28,000. Finally, Arete Wealth Advisors LLC grew its position in Dycom Industries by 16.2% during the 1st quarter. Arete Wealth Advisors LLC now owns 1,400 shares of the construction company's stock valued at $213,000 after purchasing an additional 195 shares during the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Stock Performance

Dycom Industries stock traded up $5.22 during midday trading on Thursday, hitting $266.79. The stock had a trading volume of 138,512 shares, compared to its average volume of 434,599. The firm's fifty day moving average is $260.49 and its two-hundred day moving average is $214.44. The company has a market capitalization of $7.72 billion, a PE ratio of 29.97, a P/E/G ratio of 1.21 and a beta of 1.18. Dycom Industries, Inc. has a 52-week low of $131.37 and a 52-week high of $285.64. The company has a current ratio of 3.16, a quick ratio of 2.96 and a debt-to-equity ratio of 0.74.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.41. Dycom Industries had a net margin of 5.23% and a return on equity of 21.17%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the firm posted $2.46 EPS. The company's revenue was up 14.5% on a year-over-year basis. Dycom Industries has set its FY 2026 guidance at EPS. Q3 2026 guidance at 3.030-3.36 EPS. On average, research analysts forecast that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Analysts Set New Price Targets

DY has been the topic of several research analyst reports. DA Davidson upped their target price on shares of Dycom Industries from $265.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Wall Street Zen upgraded shares of Dycom Industries from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Wells Fargo & Company upped their target price on shares of Dycom Industries from $250.00 to $295.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Raymond James Financial upped their target price on shares of Dycom Industries from $290.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 21st. Finally, Zacks Research upgraded shares of Dycom Industries to a "hold" rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $289.43.

Dycom Industries Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.