Primoris Services Corporation (PRIM) to Issue Quarterly Dividend of $0.08 on April 15th

Primoris Services Corporation (NYSE:PRIM) declared a quarterly dividend on Tuesday, February 17th. Stockholders of record on Tuesday, March 31st will be paid a dividend of 0.08 per share on Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 31st.

Primoris Services has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. Primoris Services has a payout ratio of 6.4% indicating that its dividend is sufficiently covered by earnings.

Primoris Services Stock Up 2.2%

Shares of PRIM opened at $143.67 on Friday. Primoris Services has a twelve month low of $49.10 and a twelve month high of $174.43. The firm’s 50 day moving average price is $149.73. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $7.79 billion, a P/E ratio of 28.56 and a beta of 1.36.

Primoris Services (NYSE:PRIM) last issued its earnings results on Monday, February 23rd. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.13. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the company posted $1.13 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Institutional Trading of Primoris Services

A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Primoris Services by 163.0% during the fourth quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock valued at $216,774,000 after acquiring an additional 1,082,218 shares during the last quarter. Norges Bank purchased a new stake in shares of Primoris Services during the 4th quarter valued at $103,368,000. State Street Corp boosted its position in shares of Primoris Services by 56.8% in the 4th quarter. State Street Corp now owns 2,011,488 shares of the company’s stock worth $249,866,000 after purchasing an additional 728,646 shares in the last quarter. First Trust Advisors LP raised its stake in Primoris Services by 56.4% in the second quarter. First Trust Advisors LP now owns 1,833,105 shares of the company’s stock valued at $142,872,000 after buying an additional 660,915 shares during the last quarter. Finally, Vanguard Group Inc. raised 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 buying an additional 466,192 shares during the last quarter. 91.82% of the stock is currently owned by institutional investors.

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.