Primoris Services Corporation (NYSE:PRIM) Plans Quarterly Dividend of $0.08

Primoris Services Corporation (NYSE:PRIM) declared a quarterly dividend on Tuesday, May 5th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.08 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, June 30th.

Primoris Services has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Primoris Services has a dividend payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Primoris Services to earn $6.37 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 5.0%.

Primoris Services Trading Down 45.6%

Shares of NYSE PRIM traded down $92.52 during mid-day trading on Wednesday, hitting $110.40. The company had a trading volume of 4,232,907 shares, compared to its average volume of 829,955. The firm has a market capitalization of $5.99 billion, a P/E ratio of 21.91 and a beta of 1.50. Primoris Services has a 1 year low of $65.23 and a 1 year high of $205.50. The business’s 50-day simple moving average is $152.79. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.26 and a quick ratio of 1.26.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.28). The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. Primoris Services’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, equities research analysts forecast that Primoris Services will post 5.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Primoris Services by 7.8% during the 4th 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 period. State Street Corp increased its holdings in Primoris Services by 56.8% during the 4th quarter. State Street Corp now owns 2,011,488 shares of the company’s stock valued at $249,866,000 after purchasing an additional 728,646 shares during the period. First Trust Advisors LP increased its holdings in Primoris Services by 12.1% during the 4th quarter. First Trust Advisors LP now owns 1,958,008 shares of the company’s stock valued at $243,067,000 after purchasing an additional 211,096 shares during the period. Wellington Management Group LLP increased its holdings in 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 purchasing an additional 1,082,218 shares during the period. Finally, Geode Capital Management LLC increased its holdings in 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 purchasing an additional 42,052 shares during the period. Hedge funds and other institutional investors own 91.82% of the company’s stock.

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.