Tocqueville Asset Management L.P. Acquires Shares of 14,321 Dycom Industries, Inc. $DY

Tocqueville Asset Management L.P. acquired a new stake in shares of Dycom Industries, Inc. (NYSE:DY) during the second quarter, Holdings Channel.com reports. The fund acquired 14,321 shares of the construction company’s stock, valued at approximately $7,241,000.

A number of other institutional investors have also made changes to their positions in DY. Kemnay Advisory Services Inc. purchased a new position in shares of Dycom Industries in the fourth quarter valued at $30,000. Acumen Wealth Advisors LLC purchased a new stake in Dycom Industries during the 4th quarter worth $35,000. Legacy Wealth Managment LLC ID purchased a new stake in Dycom Industries during the 4th quarter worth $39,000. EverSource Wealth Advisors LLC lifted its holdings 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 buying an additional 68 shares in the last quarter. Finally, Nemes Rush Group LLC acquired a new position in Dycom Industries in the 4th quarter worth $40,000. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Price Performance

Shares of DY stock opened at $402.27 on Thursday. The firm has a fifty day moving average of $434.11 and a two-hundred day moving average of $415.46. The firm has a market cap of $12.08 billion, a P/E ratio of 38.27, a P/E/G ratio of 0.73 and a beta of 1.54. Dycom Industries, Inc. has a 1-year low of $233.00 and a 1-year high of $566.47. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.58 and a quick ratio of 2.46.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Dycom Industries from $415.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Wedbush set a $654.00 price target on Dycom Industries in a research note on Friday, May 29th. Wall Street Zen downgraded Dycom Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Zacks Research lowered Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Finally, B. Riley Financial lifted their price objective on Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target 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.