Mirae Asset Global Investments Co. Ltd. Cuts Stock Position in Dycom Industries, Inc. (NYSE:DY)

Posted by on Aug 6th, 2023

Mirae Asset Global Investments Co. Ltd. reduced its position in Dycom Industries, Inc. (NYSE:DY – Free Report) by 3.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,844 shares of the construction company’s stock after selling 5,691 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.49% of Dycom Industries worth $13,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Yousif Capital Management LLC lifted its stake in shares of Dycom Industries by 10.1% in the 1st quarter. Yousif Capital Management LLC now owns 16,589 shares of the construction company’s stock valued at $1,554,000 after acquiring an additional 1,517 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Dycom Industries by 11.9% in the 1st quarter. Victory Capital Management Inc. now owns 15,125 shares of the construction company’s stock valued at $1,416,000 after acquiring an additional 1,604 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Dycom Industries in the 1st quarter valued at about $277,000. Texas Permanent School Fund Corp lifted its stake in shares of Dycom Industries by 33.8% in the 1st quarter. Texas Permanent School Fund Corp now owns 26,507 shares of the construction company’s stock valued at $2,482,000 after acquiring an additional 6,703 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Dycom Industries by 35.2% in the 1st quarter. CWM LLC now owns 430 shares of the construction company’s stock valued at $40,000 after acquiring an additional 112 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James assumed coverage on Dycom Industries in a research note on Wednesday, May 31st. They issued an “outperform” rating and a $120.00 target price for the company. DA Davidson reissued a “buy” rating on shares of Dycom Industries in a research note on Wednesday, May 31st. Wells Fargo & Company raised Dycom Industries from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $105.00 to $120.00 in a research report on Thursday, May 25th. B. Riley reaffirmed a “neutral” rating and set a $111.00 price target (down previously from $134.00) on shares of Dycom Industries in a research report on Wednesday, July 26th. Finally, StockNews.com lowered Dycom Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $125.00.

Dycom Industries Trading Down 2.8 %

DY opened at $94.58 on Friday. Dycom Industries, Inc. has a one year low of $77.33 and a one year high of $122.13. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 16.25 and a beta of 1.32. The business has a 50 day simple moving average of $106.68 and a two-hundred day simple moving average of $97.69. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.43 and a quick ratio of 3.16.

Dycom Industries (NYSE:DY – Get Free Report) last announced its earnings results on Wednesday, May 24th. The construction company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $1.03. Dycom Industries had a return on equity of 19.99% and a net margin of 4.38%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $940.22 million. During the same quarter in the prior year, the company earned $0.51 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. Analysts predict that Dycom Industries, Inc. will post 6.35 EPS for the current year.

Dycom Industries Company Profile

(Free Report)

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.

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

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