Dycom Industries, Inc. (NYSE:DY) Shares Bought by Macquarie Group Ltd.

Posted by on Mar 7th, 2023

Macquarie Group Ltd. raised its position in Dycom Industries, Inc. (NYSE:DY – Get Rating) by 35.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 80,548 shares of the construction company’s stock after purchasing an additional 20,868 shares during the period. Macquarie Group Ltd. owned about 0.27% of Dycom Industries worth $7,744,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Dycom Industries by 30.2% in the second quarter. Principal Financial Group Inc. now owns 1,102,115 shares of the construction company’s stock valued at $102,540,000 after acquiring an additional 255,487 shares in the last quarter. State Street Corp lifted its position in shares of Dycom Industries by 4.1% in the first quarter. State Street Corp now owns 951,063 shares of the construction company’s stock valued at $90,598,000 after acquiring an additional 37,181 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Dycom Industries by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 388,635 shares of the construction company’s stock worth $37,022,000 after buying an additional 14,419 shares during the period. Point72 Asset Management L.P. purchased a new position in Dycom Industries during the third quarter worth about $30,636,000. Finally, Millennium Management LLC lifted its position in Dycom Industries by 16.7% during the second quarter. Millennium Management LLC now owns 297,703 shares of the construction company’s stock worth $27,698,000 after buying an additional 42,583 shares during the period. Institutional investors and hedge funds own 92.82% of the company’s stock.

Dycom Industries Stock Up 2.1 %

Shares of DY stock opened at $103.25 on Tuesday. Dycom Industries, Inc. has a 1 year low of $76.21 and a 1 year high of $122.13. The stock has a market cap of $3.04 billion, a PE ratio of 21.78 and a beta of 1.29. The business’s fifty day moving average is $91.20 and its 200-day moving average is $99.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.93 and a current ratio of 3.18.

Dycom Industries (NYSE:DY – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The construction company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.66. The firm had revenue of $917.50 million during the quarter, compared to analysts’ expectations of $815.89 million. Dycom Industries had a return on equity of 16.43% and a net margin of 3.73%. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 earnings per share. Equities analysts expect that Dycom Industries, Inc. will post 5.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. UBS Group increased their target price on Dycom Industries from $124.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd. Wells Fargo & Company increased their target price on Dycom Industries from $88.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, March 2nd. Craig Hallum raised their price target on Dycom Industries from $110.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 2nd. Finally, StockNews.com raised Dycom Industries from a “hold” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $125.80.

Insider Activity at Dycom Industries

In other Dycom Industries news, Director Richard K. Sykes sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $92.35, for a total value of $184,700.00. Following the completion of the sale, the director now owns 17,854 shares of the company’s stock, valued at $1,648,816.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.32% of the company’s stock.

Dycom Industries Profile

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Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.

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Institutional Ownership by Quarter for Dycom Industries (NYSE:DY)

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