Teachers Retirement System of The State of Kentucky lifted its position in Primoris Services Corporation (NYSE:PRIM - Free Report) by 43.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,580 shares of the company's stock after acquiring an additional 8,334 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.05% of Primoris Services worth $3,424,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted its position in shares of Primoris Services by 224.2% during the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company's stock valued at $29,000 after purchasing an additional 148 shares in the last quarter. Osterweis Capital Management Inc. bought a new position in Primoris Services in the second quarter worth $34,000. Blue Bell Private Wealth Management LLC purchased a new position in Primoris Services during the third quarter valued at $37,000. Cullen Frost Bankers Inc. bought a new stake in shares of Primoris Services during the 3rd quarter valued at $37,000. Finally, McIlrath & Eck LLC boosted its holdings in shares of Primoris Services by 109.8% during the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the company's stock valued at $38,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on PRIM shares. Cantor Fitzgerald set a $160.00 target price on shares of Primoris Services and gave the stock a "neutral" rating in a research report on Tuesday, February 24th. Wells Fargo & Company boosted their price objective on shares of Primoris Services from $138.00 to $168.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 26th. DA Davidson set a $180.00 price objective on shares of Primoris Services in a report on Wednesday, February 25th. Guggenheim raised their target price on shares of Primoris Services from $184.00 to $195.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. lifted their target price 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. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $157.00.
Check Out Our Latest Report on PRIM
Primoris Services Price Performance
Shares of NYSE:PRIM opened at $173.04 on Tuesday. The firm's fifty day moving average is $151.58. 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 has a market capitalization of $9.38 billion, a P/E ratio of 34.40 and a beta of 1.38. Primoris Services Corporation has a 1-year low of $58.13 and a 1-year high of $176.68.
Primoris Services (NYSE:PRIM - Get Free Report) last announced its quarterly earnings results on Monday, February 23rd. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.82 billion. During the same quarter in the previous year, the business posted $1.13 EPS. Primoris Services'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. On average, sell-side analysts anticipate that Primoris Services Corporation will post 5.73 earnings per share for the current fiscal year.
Primoris Services Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, March 31st. Primoris Services's dividend payout ratio is currently 6.36%.
Primoris Services Company Profile
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Free Report)
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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