Peconic Partners Stock Portfolio: 5 Stock Picks

2. Dycom Industries Inc (NYSE:DY)

Peconic Partners’ Investment Stake: $1.4 Billion

Number of Hedge Fund Holders: 52

Dycom Industries Inc (NYSE:DY) is one of Peconic Partners’ top stock picks. Dycom Industries stock makes up 24% of Peconic Partners’ equity portfolio. The stock is backed by 52 hedge funds. Over the past year, Dycom’s share price has nearly doubled, and analysts see more than 30% upside potential in the stock.

On June 1, KeyBanc raised its price target on Dycom Industries Inc (NYSE:DY) shares to $610 from $482 while keeping an Overweight rating on the stock. For this action, the brokerage cited the company’s blowout fiscal Q1 2027 results and upbeat Q2 and fiscal full-year 2027 outlook.

In Q1, Dycom posted adjusted EPS of $4.42, which increased 84.9% YoY and beat a forecast of $2.72. Revenue rose 56.1% YoY to $1.96 billion, surpassing the anticipated $1.67 billion.

Looking ahead, Dycom expects Q2 revenue in the range of $1.94 billion to $2.01 billion. It projects adjusted EPS in the band of $4.40 to $4.82. For fiscal year 2027, it expects revenue to come between $7.38 billion and $7.65 billion.

KeyBanc’s optimism is largely based on the strength in Dycom’s fiber-to-the-home market and expanding margins. Moreover, KeyBanc plans to adjust its estimates for Dycom once the company closes the acquisition of NTI to bolster its data center cabling capabilities.

Dycom Industries Inc (NYSE:DY) provides specialty contracting services to telecommunications infrastructure and utility industries across the US. The company’s work spans project management, planning, construction, and maintenance services.