State of Alaska Department of Revenue Has $3.75 Million Stock Position in Primoris Services Corporation $PRIM

Key Points

• State of Alaska Department of Revenue boosted its stake in Primoris by 1,027.3% in Q4, adding 27,512 shares to hold 30,190 shares worth about $3.75 million (roughly 0.06% ownership).
• Primoris beat quarterly estimates with EPS of $1.08 (vs. $0.95) and revenue of $1.86 billion (up 6.7% y/y), set FY2026 guidance of $5.80–$6.00 EPS, and pays a $0.08 quarterly dividend (annualized $0.32, ~0.2% yield).
• Shares trade near $162.63 with a 52-week range of $53.13–$174.43 and a market cap of ~$8.82 billion (P/E 32.33); analysts' consensus is a "Moderate Buy" with an average price target of $156.31 and institutional ownership around 91.8%.

State of Alaska Department of Revenue increased its stake in Primoris Services Corporation (NYSE:PRIM - Free Report) by 1,027.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,190 shares of the company's stock after acquiring an additional 27,512 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Primoris Services worth $3,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. lifted its stake in shares of 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 acquiring an additional 148 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of Primoris Services in the third quarter worth approximately $37,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Primoris Services in the third quarter worth approximately $37,000. McIlrath & Eck LLC lifted 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 worth $38,000 after acquiring an additional 145 shares during the period. Finally, Richardson Financial Services Inc. lifted 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 worth $44,000 after acquiring an additional 199 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Stock Performance

Shares of PRIM opened at $162.63 on Thursday. Primoris Services Corporation has a 52-week low of $53.13 and a 52-week high of $174.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a 50 day simple moving average of $150.62. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 32.33 and a beta of 1.38.

Primoris Services (NYSE:PRIM - Get Free Report) last issued its quarterly earnings results on Monday, February 23rd. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.13. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The company'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 company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Primoris Services's dividend payout ratio is presently 6.36%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PRIM. UBS Group lifted their price objective on Primoris Services from $165.00 to $176.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. The Goldman Sachs Group boosted their price target on Primoris Services from $117.00 to $133.00 and gave the company a "sell" rating in a research note on Wednesday, January 28th. Weiss Ratings reissued a "buy (b)" rating on shares of Primoris Services in a research note on Tuesday, January 20th. Guggenheim boosted their price target on Primoris Services from $170.00 to $184.00 and gave the company a "buy" rating in a research note on Wednesday, April 1st. Finally, DA Davidson set a $180.00 price target on Primoris Services in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $156.31.

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.

Want to see what other hedge funds are holding PRIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primoris Services Corporation (NYSE:PRIM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.