BlackRock Fund Advisors has recently announced that it has increased stake in Dycom Industries Inc. (NYSE:DY) by 41.97%. After grabbing 4.26 million shares, the institutional investor is now in possession of 1.26 million shares of the Industrials Company. The new investment brought the stake of investor firm to 14.52% having worth around $394.72 million. Moreover, The Vanguard Group, Inc. increased its share by 0.41 million to have a control over 3.12 million shares. And Peconic Partners LLC raised its holdings to 0.17 million shares by acquiring 2.69 million shares or 9.16% of the stake.
Dycom Industries Inc. (DY) concluded trading on 05/24/23 at a closing price of $97.02, with 1.27 million shares of worth about $122.93 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -11.44% during that period and on Wednesday the price saw a loss of about -3.33%. Currently the company’s common shares owned by public are about 29.52M shares, out of which, 28.43M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the DY stock and their offered price forecasts bring an average price target of $125.71. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $145.00 and could fall to a lowest price of $105.00. The stock’s current price level is 22.82% above of average price target set by the analysts, while a rise to estimated low would result in gain of 7.6% for the stock. However, touching the estimated high of $145.00 would mean a gain of 33.09% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 66 times over the past 12 months. They bought 180,925 shares in 40 of the transactions. In 26 selling transactions, insiders dumped 193,882 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Dycom Industries Inc. iShares Core S&P Small Cap ETF is currently holding 2.15 million shares of worth totaling $198.87 million. The company recently came selling 2890.0 shares which brought its stake up to 7.31% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 386.0 shares, after which its hold over company’s outstanding shares expand to 2.97%, leaving 0.87 million shares with the mutual fund that have a worth of about $80.75 million. Vanguard Small Cap Index Fund, after selling 0.73 million shares, have now control over 2.50% of the stake in the company. It holds 180.0 shares of worth $68.05 million.
Dycom Industries Inc. (NYSE: DY) started trading at $106.82, above $6.46 from concluding price of the previous day. However, the stock later moved at a day high price of 106.82, or with a loss of -3.33%. Stock saw a price change of -0.74% in past 5 days and over the past one month there was a price change of 8.89%. Year-to-date (YTD), DY shares are showing a performance of 3.65% which increased to 19.90% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $77.33 but also hit the highest price of $122.12 during that period. The average intraday trading volume for Dycom Industries Inc. shares is 547.48K. The stock is currently trading 1.85% above its 20-day simple moving average (SMA20), while that difference is up 3.29% for SMA50 and it goes to -1.52% lower than SMA200.
BlackRock Fund Advisors acquired 4.26 million shares of Dycom Industries Inc. having value of about $394.72 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 1.26 million shares in the company valued at close to $122227833.42, or have control over 41.97% stake in the company. Dycom Industries Inc. (NYSE: DY) currently have 29.52M outstanding shares and institutions hold larger chunk of about 96.40% of that. Holding of mutual funds in the company is about 52.16% while other institutional holders and individual stake holders have control over 6.21% and 48.67% of the stake respectively.
The stock has a current market capitalization of $2.87B and its 3Y-monthly beta is at 1.30. PE ratio of stock for trailing 12 months is 20.46, while it has posted earnings per share of $4.74 in the same period. Its PEG reads 1.02 and has Quick Ratio of 2.90 while making debt-to-equity ratio of 0.95. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DY, volatility over the week remained 5.56% while standing at 3.71% over the month.
Analysts are in expectations that Dycom Industries Inc. (DY) stock would likely to be making an EPS of $0.7 in the current quarter, while forecast for next quarter EPS is $1.78 and it is $6.87 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.54 which is $0.81 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.65 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 201.00% while it is estimated to increase by 25.98% in next year. EPS is likely to shrink at an annualized rate of 20.00% for next 5-years, compared to annual growth of 32.90% made by the stock over the past 5-years.
Analysts at 7 brokerage firms have issued recommendations for the Dycom Industries Inc. (DY)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 7 Wall Street analysts, 6 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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