37,127 Shares in Primoris Services Corporation $PRIM Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans purchased a new position in Primoris Services Corporation (NYSE:PRIM) during the fourth quarter, Holdings Channel reports. The fund purchased 37,127 shares of the company’s stock, valued at approximately $4,609,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRIM. SBI Securities Co. Ltd. boosted its holdings 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. Osterweis Capital Management Inc. purchased a new position in shares of Primoris Services in the 2nd quarter worth about $34,000. Cullen Frost Bankers Inc. purchased a new position in shares of Primoris Services in the 3rd quarter worth about $37,000. NewEdge Advisors LLC boosted its holdings in shares of Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after buying an additional 194 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Primoris Services by 120.4% during the fourth 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 last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on PRIM shares. Wall Street Zen downgraded shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings downgraded shares of Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Mizuho raised shares of Primoris Services from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $175.00 to $135.00 in a report on Monday, May 11th. Wolfe Research started coverage on shares of Primoris Services in a report on Thursday, April 9th. They set an “outperform” rating and a $183.00 price objective on the stock. Finally, UBS Group dropped their price objective on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Primoris Services currently has an average rating of “Moderate Buy” and a consensus target price of $156.20.

Primoris Services Price Performance

NYSE PRIM opened at $117.38 on Friday. The company has a market cap of $6.37 billion, a PE ratio of 25.85 and a beta of 1.50. Primoris Services Corporation has a 52 week low of $68.52 and a 52 week high of $205.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $143.61 and its two-hundred day simple moving average is $139.91.

Primoris Services (NYSE:PRIM) last announced 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 net margin of 3.31% and a return on equity of 16.48%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Research analysts predict that Primoris Services Corporation will post 4.55 earnings per share for the current year.

Primoris Services Dividend Announcement

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 0.3%. Primoris Services’s dividend payout ratio is currently 7.05%.

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.