Castleark Management LLC Trims Position in Dycom Industries, Inc. $DY

Castleark Management LLC decreased its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 14.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,506 shares of the construction company’s stock after selling 5,660 shares during the quarter. Castleark Management LLC’s holdings in Dycom Industries were worth $11,014,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DY. Troluce Capital Advisors LLC purchased a new position in shares of Dycom Industries during the first quarter worth approximately $30,494,000. Entropy Technologies LP purchased a new stake in shares of Dycom Industries in the first quarter valued at approximately $1,484,000. Renaissance Technologies LLC purchased a new stake in shares of Dycom Industries in the first quarter valued at approximately $12,279,000. Hilltop Holdings Inc. bought a new position in Dycom Industries in the first quarter worth approximately $474,000. Finally, Keebeck Wealth Management purchased a new position in Dycom Industries during the 1st quarter worth $271,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DY shares. KeyCorp upped their target price on Dycom Industries from $482.00 to $610.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. JPMorgan Chase & Co. raised their price target on Dycom Industries from $415.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. UBS Group restated a “buy” rating on shares of Dycom Industries in a research note on Friday. Wall Street Zen downgraded Dycom Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, B. Riley Financial upped their price objective on shares of Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $554.92.

Dycom Industries Price Performance

DY opened at $430.58 on Monday. The firm has a market capitalization of $12.93 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 0.76 and a beta of 1.50. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.58 and a quick ratio of 2.46. The business’s 50-day moving average is $452.12 and its two-hundred day moving average is $409.56. Dycom Industries, Inc. has a 1 year low of $233.00 and a 1 year high of $566.47.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, May 27th. The construction company reported $4.42 EPS for the quarter, beating the consensus estimate of $2.73 by $1.69. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the firm posted $2.09 earnings per share. The company’s quarterly revenue was up 56.1% on a year-over-year basis. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. Research analysts anticipate that Dycom Industries, Inc. will post 15.45 earnings per share for the current fiscal year.

Dycom Industries 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.