Strs Ohio Grows Stake in Primoris Services Corporation $PRIM

Strs Ohio grew its stake in shares of Primoris Services Corporation (NYSE:PRIM) by 22.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,200 shares of the company’s stock after acquiring an additional 8,000 shares during the period. Strs Ohio owned about 0.08% of Primoris Services worth $6,322,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Primoris Services by 7.8% in the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock valued at $804,361,000 after purchasing an additional 466,192 shares during the last quarter. State Street Corp raised its stake in shares of Primoris Services by 56.8% in the fourth quarter. State Street Corp now owns 2,011,488 shares of the company’s stock valued at $249,866,000 after buying an additional 728,646 shares during the period. First Trust Advisors LP raised its stake in shares of Primoris Services by 12.1% in the fourth quarter. First Trust Advisors LP now owns 1,958,008 shares of the company’s stock valued at $243,067,000 after buying an additional 211,096 shares during the period. Wellington Management Group LLP lifted its position in shares of Primoris Services by 163.0% during the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock valued at $216,774,000 after buying an additional 1,082,218 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Primoris Services by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company’s stock valued at $164,526,000 after buying an additional 42,052 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Price Performance

Shares of NYSE PRIM opened at $88.08 on Monday. The stock has a market cap of $4.78 billion, a PE ratio of 19.40 and a beta of 1.41. Primoris Services Corporation has a fifty-two week low of $65.00 and a fifty-two week high of $205.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a fifty day moving average of $117.66 and a 200-day moving average of $136.05.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the company posted $0.98 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities research analysts anticipate that Primoris Services Corporation will post 1.88 earnings per share for the current year.

Primoris Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Primoris Services’s dividend payout ratio is currently 7.05%.

Insider Transactions at Primoris Services

In other Primoris Services news, Director David Lee King sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the sale, the director directly owned 14,941 shares in the company, valued at $1,779,323.69. This represents a 57.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the completion of the transaction, the insider directly owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. The trade was a 51.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

PRIM has been the subject of several recent research reports. Zacks Research lowered Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Weiss Ratings downgraded shares of Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. KeyCorp reiterated a “sector weight” rating on shares of Primoris Services in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. upgraded shares of Primoris Services from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $105.00 to $116.00 in a research note on Monday, June 29th. Finally, Mizuho lowered their price target on shares of Primoris Services from $135.00 to $117.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.79.

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.