New York State Teachers Retirement System Reduces Stock Position in Dycom Industries, Inc. $DY

New York State Teachers Retirement System decreased its position in Dycom Industries, Inc. (NYSE:DY) by 4.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,884 shares of the construction company’s stock after selling 1,643 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Dycom Industries worth $12,125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Root Financial Partners LLC acquired a new position in shares of Dycom Industries in the third quarter valued at approximately $26,000. Optiver Holding B.V. boosted its position in Dycom Industries by 57.1% during the third quarter. Optiver Holding B.V. now owns 110 shares of the construction company’s stock worth $32,000 after acquiring an additional 40 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Dycom Industries in the 4th quarter worth approximately $32,000. CI Investments Inc. grew its stake in Dycom Industries by 259.4% in the 3rd 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 acquired a new position in Dycom Industries in the 3rd quarter valued at $37,000. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Stock Down 0.3%

Shares of NYSE:DY opened at $432.41 on Monday. The stock has a 50-day simple moving average of $380.17 and a 200-day simple moving average of $356.41. The stock has a market capitalization of $12.98 billion, a P/E ratio of 45.04, a PEG ratio of 1.00 and a beta of 1.46. Dycom Industries, Inc. has a 1 year low of $177.27 and a 1 year high of $445.52. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.61 and a current ratio of 2.74.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, March 4th. The construction company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.91 by $0.12. Dycom Industries had a net margin of 5.07% and a return on equity of 21.77%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm posted $1.17 earnings per share. Dycom Industries’s revenue for the quarter was up 34.4% compared to the same quarter last year. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. Equities analysts forecast that Dycom Industries, Inc. will post 12.88 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DY shares. Wall Street Zen cut Dycom Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Zacks Research upgraded Dycom Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. JPMorgan Chase & Co. raised their price target on Dycom Industries from $395.00 to $415.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Guggenheim initiated coverage on Dycom Industries in a report on Thursday, January 22nd. They issued a “buy” rating and a $510.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $436.00 price objective on shares of Dycom Industries in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $431.64.

About Dycom Industries

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.