Dana Investment Advisors Inc. Trims Position in Primoris Services Corporation $PRIM

Key Points

• Dana Investment Advisors cut its Primoris Services stake by 8.3% in the fourth quarter, selling 8,853 shares and leaving it with 97,435 shares valued at about $12.1 million.
• Institutional ownership remains heavy, with hedge funds and other institutions holding 91.82% of Primoris; several large investors, including Vanguard and MFS, increased their positions.
• Primoris shares were down 1.7% and the company reported weaker-than-expected quarterly results, posting $0.59 EPS on revenue of $1.56 billion versus estimates of $0.87 EPS and $1.73 billion in revenue.

Dana Investment Advisors Inc. lessened its stake in Primoris Services Corporation (NYSE:PRIM - Free Report) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,435 shares of the company's stock after selling 8,853 shares during the period. Dana Investment Advisors Inc. owned 0.18% of Primoris Services worth $12,096,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PRIM. Vanguard Group Inc. increased its stake in Primoris Services by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company's stock worth $804,361,000 after buying an additional 466,192 shares during the period. American Century Companies Inc. increased its stake in Primoris Services by 69.6% in the 3rd quarter. American Century Companies Inc. now owns 1,019,856 shares of the company's stock worth $140,057,000 after buying an additional 418,374 shares during the period. Wellington Management Group LLP increased its stake in Primoris Services by 136.0% in the 3rd quarter. Wellington Management Group LLP now owns 663,985 shares of the company's stock worth $91,185,000 after buying an additional 382,597 shares during the period. Mackenzie Financial Corp increased its stake in Primoris Services by 1,093.2% in the 3rd quarter. Mackenzie Financial Corp now owns 380,340 shares of the company's stock worth $52,232,000 after buying an additional 348,465 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Primoris Services by 2,338.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company's stock worth $39,033,000 after buying an additional 301,532 shares during the period. Hedge funds and other institutional investors own 91.82% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Cantor Fitzgerald set a $160.00 price target on shares of Primoris Services and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. Needham & Company LLC reduced their price target on shares of Primoris Services from $205.00 to $188.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. DA Davidson set a $180.00 price target on shares of Primoris Services in a research note on Wednesday, February 25th. Mizuho upgraded shares of Primoris Services from a "neutral" rating to an "outperform" rating and dropped their target price for the stock from $175.00 to $135.00 in a report on Monday, May 11th. Finally, Wells Fargo & Company dropped their target price on shares of Primoris Services from $168.00 to $118.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $158.60.

Primoris Services Stock Down 1.7%

Shares of Primoris Services stock opened at $113.59 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. Primoris Services Corporation has a 1 year low of $68.52 and a 1 year high of $205.50. The firm's 50-day moving average is $146.19 and its two-hundred day moving average is $141.05. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 25.02 and a beta of 1.50.

Primoris Services (NYSE:PRIM - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The firm's revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, research analysts expect that Primoris Services Corporation will post 4.49 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, June 30th. Primoris Services's dividend payout ratio is presently 7.05%.

Primoris Services Company 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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