191.50% in 3 Years: Peconic Hedge Fund’s Top 10 Stock Picks

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2. Dycom Industries, Inc. (NYSE:DY)

Number of Hedge Fund Holders: 26

Ranking 2nd in Peconic Hedge Fund’s top 10 stock picks is Dycom Industries, Inc. (NYSE:DY). Dycom Industries, Inc. (NYSE:DY) works in the telecommunications infrastructure sector, which is seeing high demand because of investments in 5G networks and broadband expansion. The continued rollout of 5G and increased broadband investments are expected to drive further growth for the company.

Dycom Industries, Inc. (NYSE:DY) has demonstrated strong financial performance with steady revenue and earnings growth. For example, its revenue rose to $3.4 billion in the latest fiscal year, up from $3.2 billion the previous year. Although its profit margins are slightly below the industry average, Dycom Industries, Inc. (NYSE:DY) expects to improve them in fiscal year 2025. Analyst Robert F. Abbott rates Dycom Industries, Inc. (NYSE:DY) as a Buy, citing its track record of earnings and share price growth. He also notes an expected earnings growth of 17.95% for fiscal 2026 and 19.85% for fiscal 2027.

According to regulatory filings as of the first quarter of 2024, Peconic Partners owned 3,596,582 shares of Dycom Industries, Inc. (NYSE:DY), valued at $516,217,414, accounting for 22.92% of their portfolio.

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