Pinnacle Associates Ltd. Trims Stock Position in Dycom Industries, Inc. $DY

Pinnacle Associates Ltd. cut its holdings in shares of Dycom Industries, Inc. (NYSE:DY) by 5.5% in the third quarter, HoldingsChannel reports. The firm owned 54,092 shares of the construction company’s stock after selling 3,149 shares during the period. Pinnacle Associates Ltd.’s holdings in Dycom Industries were worth $15,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DY. Root Financial Partners LLC purchased a new position in shares of Dycom Industries during the 3rd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Dycom Industries in the second quarter worth about $32,000. Optiver Holding B.V. boosted its stake in shares of Dycom Industries by 57.1% in the third quarter. Optiver Holding B.V. now owns 110 shares of the construction company’s stock worth $32,000 after buying an additional 40 shares during the last quarter. CI Investments Inc. grew its holdings in Dycom Industries by 259.4% during the third quarter. CI Investments Inc. now owns 115 shares of the construction company’s stock worth $34,000 after acquiring an additional 83 shares during the period. Finally, Salomon & Ludwin LLC purchased a new position in Dycom Industries during the third quarter valued at approximately $37,000. 98.33% of the stock is owned by institutional investors and hedge funds.

More Dycom Industries News

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Multiple broker upgrades and higher targets — B. Riley raised its target to $485 (buy), KeyCorp raised its target to $482 (overweight) and JPMorgan boosted its target to $415 (overweight), signaling analyst conviction in continued growth upside. Benzinga
• Positive Sentiment: Q4 results topped expectations: Dycom reported record contract revenue, adjusted earnings and adjusted EBITDA above consensus, and reiterated a strong growth outlook in the earnings call — fundamental beats underpin the bullish analyst moves. Earnings Call Summary
• Neutral Sentiment: Brokerage consensus remains constructive but measured — services aggregators show a “Moderate Buy” consensus, reflecting optimism tempered by valuation and execution risk. Consensus Article
• Neutral Sentiment: Earnings materials and presentation released for Q4 provide additional detail on backlog, margins and guidance — useful for investors evaluating revenue mix and margin cadence. Earnings Presentation
• Negative Sentiment: Market reaction: some outlets note the stock moved lower despite the beats — suggesting profit-taking and short-term investor concern about near-term valuation after a recent run-up. Zacks

Insider Buying and Selling

In related news, Director Eitan Gertel sold 3,645 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $345.62, for a total value of $1,259,784.90. Following the completion of the sale, the director owned 15,997 shares of the company’s stock, valued at approximately $5,528,883.14. The trade was a 18.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.72% of the company’s stock.

Wall Street Analysts Forecast Growth

DY has been the topic of several recent research reports. Bank of America upped their price objective on Dycom Industries from $365.00 to $475.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Dycom Industries in a report on Wednesday, January 21st. Vertical Research initiated coverage on shares of Dycom Industries in a research note on Tuesday, December 23rd. They issued a “buy” rating and a $420.00 target price for the company. Guggenheim started coverage on shares of Dycom Industries in a report on Thursday, January 22nd. They set a “buy” rating and a $510.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Dycom Industries from $395.00 to $415.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Dycom Industries currently has an average rating of “Moderate Buy” and an average target price of $431.20.

Dycom Industries Stock Performance

Shares of DY stock opened at $357.34 on Monday. The company has a current ratio of 2.74, a quick ratio of 2.61 and a debt-to-equity ratio of 1.51. Dycom Industries, Inc. has a 12-month low of $131.37 and a 12-month high of $445.52. The business’s 50 day moving average is $382.34 and its two-hundred day moving average is $328.20. The company has a market capitalization of $10.35 billion, a P/E ratio of 37.22, a P/E/G ratio of 1.22 and a beta of 1.34.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, March 4th. The construction company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.12. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Dycom Industries had a return on equity of 21.77% and a net margin of 5.07%.The business’s revenue was up 34.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 earnings per share. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. Analysts expect that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

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.