Mitsubishi UFJ Asset Management Co. Ltd. Invests $1.91 Million in Dycom Industries, Inc. $DY

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Dycom Industries, Inc. (NYSE:DY) during the second quarter, Holdings Channel.com reports. The firm purchased 3,784 shares of the construction company’s stock, valued at approximately $1,913,000.

Other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Dycom Industries by 265,593,055.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock worth $8,076,953,000 after buying an additional 23,903,375 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Dycom Industries during the second quarter valued at $90,216,000. First Trust Advisors LP raised its position in Dycom Industries by 27.8% during the first quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock valued at $270,615,000 after buying an additional 173,528 shares during the period. Alyeska Investment Group L.P. acquired a new position in Dycom Industries during the third quarter valued at $44,553,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Dycom Industries by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 558,519 shares of the construction company’s stock worth $188,725,000 after acquiring an additional 110,065 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Stock Performance

Shares of NYSE DY opened at $393.24 on Friday. 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, Inc. has a one year low of $242.55 and a one year high of $566.47. The business’s 50-day moving average price is $431.31 and its two-hundred day moving average price is $415.56. The company has a market capitalization of $11.81 billion, a P/E ratio of 37.42, a price-to-earnings-growth ratio of 0.71 and a beta of 1.54.

Dycom Industries (NYSE:DY) last posted its quarterly 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 the consensus estimate of $1.67 billion. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The business’s quarterly revenue was up 56.1% on a year-over-year basis. During the same period last year, the business earned $2.09 EPS. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. Analysts anticipate that Dycom Industries, Inc. will post 15.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DY shares. KeyCorp raised their price objective on Dycom Industries from $482.00 to $610.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Weiss Ratings raised shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Guggenheim raised their price target on shares of Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wedbush set a $654.00 price objective on shares of Dycom Industries in a research report on Friday, May 29th. Finally, 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 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $578.09.

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.