Danske Bank A S lowered its position in shares of Primoris Services Corporation (NYSE:PRIM – Free Report) by 6.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 42,071 shares of the company’s stock after selling 2,692 shares during the period. Danske Bank A S’s holdings in Primoris Services were worth $5,223,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in PRIM. NewEdge Advisors LLC lifted its holdings in Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after purchasing an additional 194 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Primoris Services by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company’s stock valued at $28,337,000 after purchasing an additional 33,934 shares in the last quarter. Caxton Associates LLP purchased a new position in Primoris Services during the first quarter valued at approximately $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Primoris Services by 25.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company’s stock valued at $9,650,000 after purchasing an additional 33,818 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in Primoris Services during the second quarter valued at approximately $274,000. Hedge funds and other institutional investors own 91.82% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Primoris Services in a report on Tuesday, January 20th. Wells Fargo & Company lifted their price target on shares of Primoris Services from $138.00 to $168.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. Mizuho lifted their price target on shares of Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. lifted their price target on shares of Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. Finally, Guggenheim boosted their target price on shares of Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Primoris Services currently has an average rating of “Moderate Buy” and an average price target of $159.25.
Primoris Services Stock Up 3.2%
Primoris Services stock opened at $186.12 on Tuesday. The stock has a market capitalization of $10.09 billion, a P/E ratio of 37.00 and a beta of 1.50. The company’s fifty day simple moving average is $152.12. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a 52-week low of $63.36 and a 52-week high of $187.10.
Primoris Services (NYSE:PRIM – Get Free Report) last released its quarterly earnings results on Monday, February 23rd. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.13. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. Primoris Services’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. On average, equities research analysts anticipate that Primoris Services Corporation will post 5.73 earnings per share for the current fiscal year.
Primoris Services Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Primoris Services’s dividend payout ratio is presently 6.36%.
Primoris Services Profile
Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.
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