New York State Common Retirement Fund Sells 9,955 Shares of Dycom Industries, Inc. $DY

New York State Common Retirement Fund cut its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 12.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,097 shares of the construction company’s stock after selling 9,955 shares during the quarter. New York State Common Retirement Fund’s holdings in Dycom Industries were worth $17,375,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DY. AlTi Global Inc. increased its holdings in Dycom Industries by 20.7% during the second quarter. AlTi Global Inc. now owns 13,097 shares of the construction company’s stock worth $3,201,000 after buying an additional 2,243 shares during the last quarter. Entropy Technologies LP grew its position in shares of Dycom Industries by 378.1% during the 2nd quarter. Entropy Technologies LP now owns 7,826 shares of the construction company’s stock valued at $1,913,000 after acquiring an additional 6,189 shares during the period. Creative Planning grew its position in shares of Dycom Industries by 88.7% during the 2nd quarter. Creative Planning now owns 12,195 shares of the construction company’s stock valued at $2,980,000 after acquiring an additional 5,731 shares during the period. Greenleaf Trust purchased a new stake in shares of Dycom Industries during the 2nd quarter worth approximately $246,000. Finally, Federated Hermes Inc. raised its holdings in shares of Dycom Industries by 27.1% in the 1st quarter. Federated Hermes Inc. now owns 492 shares of the construction company’s stock worth $75,000 after purchasing an additional 105 shares during the period. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Stock Performance

Shares of DY opened at $354.45 on Wednesday. Dycom Industries, Inc. has a 52-week low of $131.37 and a 52-week high of $364.40. The stock’s 50-day simple moving average is $299.98 and its 200 day simple moving average is $267.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.90 and a current ratio of 3.09. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 34.89, a price-to-earnings-growth ratio of 1.83 and a beta of 1.36.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, November 19th. The construction company reported $3.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.48. Dycom Industries had a return on equity of 22.21% and a net margin of 5.75%.The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the firm earned $2.68 EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. Dycom Industries has set its Q4 2026 guidance at 1.620-1.970 EPS. Research analysts forecast that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DY shares. B. Riley increased their price objective on Dycom Industries from $320.00 to $420.00 and gave the company a “buy” rating in a report on Friday, November 21st. Bank of America increased their price target on Dycom Industries from $310.00 to $365.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. KeyCorp lifted their price objective on Dycom Industries from $320.00 to $392.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Raymond James Financial upped their price objective on shares of Dycom Industries from $290.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, August 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Dycom Industries in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat, Dycom Industries presently has a consensus rating of “Buy” and a consensus price target of $371.25.

Dycom Industries Company 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.