Nordea Investment Management AB Invests $7.18 Million in Primoris Services Corporation $PRIM

Key Points

• Nordea Investment Management AB bought 58,331 shares of Primoris (about $7.18 million), representing roughly 0.11% ownership in the company.
• Primoris beat Q expectations with $1.08 EPS vs. $0.95 est and $1.86B revenue (up 6.7% YoY), and set FY2026 guidance of 5.800–6.000 EPS.
• Analysts hold a consensus rating of Moderate Buy with an average price target of $153.20, while the stock trades near $149 and has a market cap of $8.09 billion.

Nordea Investment Management AB bought a new stake in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 58,331 shares of the company's stock, valued at approximately $7,181,000. Nordea Investment Management AB owned about 0.11% of Primoris Services as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of PRIM. SBI Securities Co. Ltd. lifted its position in Primoris Services by 224.2% in the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company's stock worth $29,000 after buying an additional 148 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in Primoris Services during the third quarter valued at $37,000. Blue Bell Private Wealth Management LLC bought a new position in Primoris Services during the third quarter valued at $37,000. McIlrath & Eck LLC raised its stake in shares of Primoris Services by 109.8% in the third quarter. McIlrath & Eck LLC now owns 277 shares of the company's stock valued at $38,000 after acquiring an additional 145 shares during the period. Finally, Richardson Financial Services Inc. raised its stake in shares of Primoris Services by 163.1% in the third quarter. Richardson Financial Services Inc. now owns 321 shares of the company's stock valued at $44,000 after acquiring an additional 199 shares during the period. Hedge funds and other institutional investors own 91.82% of the company's stock.

Primoris Services Trading Up 1.5%

Shares of PRIM opened at $149.26 on Thursday. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 29.67 and a beta of 1.36. Primoris Services Corporation has a 12-month low of $49.10 and a 12-month high of $174.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.26 and a quick ratio of 1.26. The company's fifty day moving average is $149.98.

Primoris Services (NYSE:PRIM - Get Free Report) last posted its quarterly earnings results on Monday, February 23rd. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.95 by $0.13. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm posted $1.13 EPS. The firm's revenue was up 6.7% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, March 31st. Primoris Services's dividend payout ratio is currently 6.36%.

Analysts Set New Price Targets

PRIM has been the subject of a number of recent analyst reports. 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Primoris Services in a report on Tuesday, January 20th. UBS Group increased their price objective on shares of Primoris Services from $165.00 to $176.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. The Goldman Sachs Group raised their price objective on shares of Primoris Services from $117.00 to $133.00 and gave the stock a "sell" rating in a research note on Wednesday, January 28th. Finally, DA Davidson set a $180.00 target price on Primoris Services in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Primoris Services has a consensus rating of "Moderate Buy" and an average price target of $153.20.

About Primoris Services

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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