Swedbank AB Sells 15,000 Shares of Primoris Services Corporation $PRIM

Swedbank AB reduced its holdings in Primoris Services Corporation (NYSE:PRIM) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 185,000 shares of the company’s stock after selling 15,000 shares during the quarter. Swedbank AB’s holdings in Primoris Services were worth $22,966,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. grew its position in shares of Primoris Services by 224.2% in the 3rd 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 stake in shares of Primoris Services in the 3rd quarter worth approximately $37,000. Salomon & Ludwin LLC bought a new stake in shares of Primoris Services in the 4th quarter worth approximately $44,000. GAMMA Investing LLC lifted its stake in shares of Primoris Services by 120.4% in the 4th quarter. GAMMA Investing LLC now owns 357 shares of the company’s stock valued at $44,000 after purchasing an additional 195 shares during the period. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Primoris Services in the 2nd quarter valued at approximately $34,000. 91.82% of the stock is currently owned by institutional investors.

Primoris Services Stock Down 0.1%

PRIM stock opened at $117.38 on Tuesday. Primoris Services Corporation has a 1-year low of $68.52 and a 1-year high of $205.50. The business has a fifty day moving average price of $143.31 and a 200-day moving average price of $139.81. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $6.37 billion, a P/E ratio of 25.85 and a beta of 1.50.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities analysts forecast that Primoris Services Corporation will post 4.55 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.08 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. Primoris Services’s payout ratio is currently 7.05%.

Analysts Set New Price Targets

PRIM has been the subject of a number of research analyst reports. Needham & Company LLC lowered their target price on Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Weiss Ratings cut Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Wall Street Zen cut Primoris Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Mizuho upgraded Primoris Services from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $175.00 to $135.00 in a research note on Monday, May 11th. Finally, Cantor Fitzgerald raised their target price on Primoris Services from $113.00 to $124.00 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and two have assigned 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 $156.20.

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.