UBS Group AG Acquires 15,112 Shares of Primoris Services Corporation $PRIM

UBS Group AG grew its holdings in Primoris Services Corporation (NYSE:PRIM) by 2.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 638,876 shares of the company’s stock after buying an additional 15,112 shares during the quarter. UBS Group AG’s holdings in Primoris Services were worth $79,310,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in Primoris Services in the third quarter worth $1,726,000. J.W. Cole Advisors Inc. purchased a new position in Primoris Services during the 3rd quarter valued at $1,193,000. Nordea Investment Management AB bought a new position in Primoris Services in the 4th quarter worth $7,181,000. Leuthold Group LLC raised its holdings in Primoris Services by 1,350.3% in the 3rd quarter. Leuthold Group LLC now owns 48,947 shares of the company’s stock worth $6,722,000 after purchasing an additional 45,572 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Primoris Services by 3.5% in the 3rd quarter. Federated Hermes Inc. now owns 359,876 shares of the company’s stock worth $49,422,000 after purchasing an additional 12,091 shares during the period. 91.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PRIM shares. The Goldman Sachs Group lifted their target price on shares of Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a research note on Wednesday, January 28th. JPMorgan Chase & Co. raised their price objective on shares of Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a report on Wednesday, April 1st. Cantor Fitzgerald set a $160.00 price objective on Primoris Services and gave the company a “neutral” rating in a research report on Tuesday, February 24th. 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 on the stock. Finally, Mizuho increased their target price on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.00.

Primoris Services Price Performance

Shares of Primoris Services stock opened at $180.01 on Monday. Primoris Services Corporation has a 1 year low of $63.36 and a 1 year high of $184.00. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 35.79 and a beta of 1.50. The stock has a 50-day simple moving average of $152.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.26.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data on Monday, February 23rd. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.95 by $0.13. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. Primoris Services’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. On average, equities analysts anticipate that Primoris Services Corporation will post 5.73 EPS for the current year.

Primoris Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Primoris Services’s payout ratio is currently 6.36%.

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.