Oregon Public Employees Retirement Fund Makes New Investment in Primoris Services Corporation $PRIM

Oregon Public Employees Retirement Fund purchased a new position in Primoris Services Corporation (NYSE:PRIM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 12,400 shares of the company’s stock, valued at approximately $1,539,000.

Several other institutional investors have also added to or reduced their stakes in PRIM. NewEdge Advisors LLC boosted its holdings in Primoris Services by 34.5% in the first quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after acquiring an additional 194 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Primoris Services by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company’s stock worth $28,337,000 after purchasing an additional 33,934 shares during the period. Caxton Associates LLP acquired a new stake in shares of Primoris Services during the first quarter worth about $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Primoris Services by 25.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company’s stock worth $9,650,000 after purchasing an additional 33,818 shares during the period. Finally, M&T Bank Corp acquired a new stake in shares of Primoris Services during the second quarter worth about $274,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services Trading Up 0.2%

Shares of NYSE:PRIM opened at $113.59 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a 12-month low of $68.52 and a 12-month high of $205.50. The business has a 50 day moving average of $146.19 and a two-hundred day moving average of $141.04. The company has a market capitalization of $6.16 billion, a PE ratio of 25.02 and a beta of 1.50.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.Primoris Services’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, analysts forecast that Primoris Services Corporation will post 4.49 EPS for the current year.

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. Primoris Services’s payout ratio is presently 7.05%.

Analyst Ratings Changes

A number of research firms recently commented on PRIM. Wolfe Research began coverage on Primoris Services in a report on Thursday, April 9th. They set an “outperform” rating and a $183.00 target price for the company. Wall Street Zen downgraded Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. The Goldman Sachs Group lifted their target price on Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a report on Wednesday, January 28th. Wells Fargo & Company decreased their target price on Primoris Services from $168.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Finally, Mizuho raised Primoris Services from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $175.00 to $135.00 in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.60.

Primoris Services Company 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.