Principal Financial Group Inc. Has $94.37 Million Holdings in Dycom Industries, Inc. $DY

Principal Financial Group Inc. reduced its holdings in Dycom Industries, Inc. (NYSE:DY) by 21.9% during the 1st quarter, HoldingsChannel reports. The firm owned 278,532 shares of the construction company’s stock after selling 78,271 shares during the quarter. Principal Financial Group Inc.’s holdings in Dycom Industries were worth $94,372,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Kemnay Advisory Services Inc. acquired a new position in shares of Dycom Industries during the 4th quarter worth about $30,000. Sound Income Strategies LLC acquired a new stake in Dycom Industries in the 4th quarter valued at approximately $32,000. Acumen Wealth Advisors LLC bought a new position in Dycom Industries in the 4th quarter worth approximately $35,000. Legacy Wealth Managment LLC ID bought a new position in Dycom Industries in the 4th quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Dycom Industries by 73.1% during the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock worth $39,000 after buying an additional 68 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Trading Up 2.4%

Shares of Dycom Industries stock opened at $428.83 on Thursday. Dycom Industries, Inc. has a 52-week low of $233.00 and a 52-week high of $566.47. The firm has a market capitalization of $12.88 billion, a PE ratio of 40.80, a price-to-earnings-growth ratio of 0.74 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 company’s fifty day moving average price is $453.90 and its two-hundred day moving average price is $405.67.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, May 27th. The construction company reported $4.42 EPS for the quarter, topping 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 the consensus estimate of $1.67 billion. During the same period last year, the firm earned $2.09 EPS. The firm’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. On average, analysts expect that Dycom Industries, Inc. will post 15.42 EPS for the current year.

Analyst Upgrades and Downgrades

DY has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on shares of Dycom Industries from $500.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Weiss Ratings upgraded shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. Cantor Fitzgerald increased their price target on shares of Dycom Industries from $436.00 to $654.00 and gave the company an “overweight” rating in a report on Friday, May 29th. B. Riley Financial boosted their price objective on shares of Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Guggenheim upped their price objective on shares of Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $554.92.

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.