Vanguard Trims Dycom Stake to 20.9%, Still Major Holder

TL;DR

**Vanguard still owns 20.9% of Dycom, a slight trim but they're still a huge player.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership of 6,204,972 shares of Dycom Industries Inc. Common Stock as of December 29, 2023. This represents 20.9% of Dycom's outstanding shares, a slight decrease from its previous filing. This matters to investors because Vanguard remains a significant institutional holder, indicating continued confidence in Dycom, but the minor reduction in stake could signal a rebalancing of their portfolio.

Why It Matters

Vanguard's continued substantial ownership, despite a slight reduction, signals its ongoing belief in Dycom Industries, which can reassure current and potential investors.

Risk Assessment

Risk Level: low — This filing indicates a minor adjustment by a large institutional investor, not a significant divestment that would signal major concerns.

Analyst Insight

A smart investor would note Vanguard's continued, albeit slightly reduced, significant stake as a sign of ongoing institutional confidence, but also consider the minor reduction as a potential rebalancing, prompting a review of Dycom's recent performance and future outlook.

Key Numbers

• 6,204,972 — Shares Owned (The total number of Dycom Industries Inc. Common Stock shares beneficially owned by The Vanguard Group.)
• 20.9% — Ownership Percentage (The percentage of Dycom Industries Inc. Common Stock outstanding that The Vanguard Group beneficially owns.)
• December 29, 2023 — Reporting Date (The specific date as of which Vanguard's ownership stake is being reported in this filing.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Dycom Industries Inc. (company) — subject company whose stock is being reported
• 6,204,972 shares (dollar_amount) — total shares of Common Stock beneficially owned by Vanguard
• 20.9% (dollar_amount) — percentage of Dycom Industries Inc. Common Stock owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

• Vanguard will maintain a significant, albeit potentially fluctuating, stake in Dycom Industries Inc. throughout 2024. (The Vanguard Group) — high confidence, target: 2024-12-31
• Dycom Industries Inc. will continue to be viewed as a stable investment by large institutional funds due to its industry and existing institutional ownership. (Dycom Industries Inc.) — medium confidence, target: 2024-12-31

FAQ

Filing Documents

• tv0799-dycomindustriesinc.htm (SC 13G/A) — 11KB
• 0001104659-24-020799.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Dycom Industries Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 11780 US Highway 1, Suite 600 Palm Beach Gardens, FL 33408

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 267475101

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration