Connor Clark & Lunn Investment Management Ltd. Makes New $25 Million Investment in Dycom Industries, Inc. $DY

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Dycom Industries, Inc. (NYSE:DY) during the second quarter, HoldingsChannel reports. The institutional investor bought 49,454 shares of the construction company’s stock, valued at approximately $25,003,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DY. Northwestern Mutual Wealth Management Co. increased its holdings in Dycom Industries by 265,593,055.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock worth $8,076,953,000 after purchasing an additional 23,903,375 shares during the period. Peconic Partners LLC lifted its holdings in shares of Dycom Industries by 2.8% in the 2nd quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company’s stock worth $933,038,000 after buying an additional 105,586 shares during the period. BlackRock Inc. bought a new position in shares of Dycom Industries during the 2nd quarter worth $1,513,523,000. First Trust Advisors LP grew its position in shares of Dycom Industries by 27.8% during the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock worth $270,615,000 after buying an additional 173,528 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Dycom Industries by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company’s stock valued at $245,771,000 after buying an additional 53,993 shares during the period. Institutional investors own 98.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DY. Cantor Fitzgerald lifted their price objective on Dycom Industries from $436.00 to $654.00 and gave the company an “overweight” rating in a report on Friday, May 29th. KeyCorp increased their target price on shares of Dycom Industries from $482.00 to $610.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. UBS Group reissued a “buy” rating on shares of Dycom Industries in a research report on Friday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Dycom Industries from $415.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, Wedbush set a $654.00 price objective on shares of Dycom Industries in a report on Friday, May 29th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $578.09.

Dycom Industries Trading Down 2.8%

NYSE DY opened at $381.76 on Tuesday. The company has a quick ratio of 2.46, a current ratio of 2.58 and a debt-to-equity ratio of 1.48. The firm has a market cap of $11.46 billion, a PE ratio of 36.32, a price-to-earnings-growth ratio of 0.69 and a beta of 1.54. The company has a 50 day moving average price of $429.52 and a 200 day moving average price of $415.72. Dycom Industries, Inc. has a 52 week low of $242.55 and a 52 week high of $566.47.

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

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.