Principal Financial Group Inc. Lowers Holdings in Dycom Industries, Inc. $DY

Principal Financial Group Inc. lowered its holdings in Dycom Industries, Inc. (NYSE:DY) by 21.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 278,532 shares of the construction company’s stock after selling 78,271 shares during the period. Principal Financial Group Inc. owned approximately 0.93% of Dycom Industries worth $94,372,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Sound Income Strategies LLC acquired a new stake in Dycom Industries in the fourth quarter valued at approximately $32,000. Kemnay Advisory Services Inc. bought a new position in Dycom Industries during the 4th quarter worth $30,000. Acumen Wealth Advisors LLC bought a new stake in shares of Dycom Industries in the 4th quarter worth $35,000. Legacy Wealth Managment LLC ID purchased a new stake in shares of Dycom Industries during the fourth quarter valued at $39,000. Finally, Nemes Rush Group LLC purchased a new stake in Dycom Industries during the fourth quarter valued at about $40,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Stock Up 2.4%

Dycom Industries stock opened at $428.83 on Thursday. 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 1-year low of $233.00 and a 1-year high of $566.47. The firm’s fifty day simple moving average is $453.90 and its 200-day simple moving average is $405.67. The company has a market capitalization of $12.88 billion, a P/E ratio of 40.80, a P/E/G ratio of 0.74 and a beta of 1.50.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, May 27th. The construction company reported $4.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $1.69. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations 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 company posted $2.09 earnings per share. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. Sell-side analysts forecast that Dycom Industries, Inc. will post 15.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on DY shares. UBS Group reiterated a “buy” rating and set a $611.00 price objective on shares of Dycom Industries in a research report on Friday, May 29th. Guggenheim upped their price objective on shares of Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. increased their target price on shares of Dycom Industries from $415.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Weiss Ratings raised shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. Finally, Cantor Fitzgerald boosted their price target on shares of Dycom Industries from $436.00 to $654.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. According to MarketBeat.com, Dycom Industries currently has a consensus rating of “Buy” and a consensus target price of $554.92.

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.