State of Alaska Department of Revenue Has $3.75 Million Stake in Primoris Services Corporation $PRIM

State of Alaska Department of Revenue lifted its position in shares of Primoris Services Corporation (NYSE:PRIM) by 1,027.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,190 shares of the company’s stock after purchasing an additional 27,512 shares during the quarter. State of Alaska Department of Revenue’s holdings in Primoris Services were worth $3,747,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. raised its position in shares of Primoris Services by 224.2% during the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock worth $29,000 after purchasing an additional 148 shares during the period. Osterweis Capital Management Inc. acquired a new position in shares of Primoris Services during the second quarter worth approximately $34,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Primoris Services during the third quarter worth approximately $37,000. Cullen Frost Bankers Inc. acquired a new position in shares of Primoris Services during the third quarter worth approximately $37,000. Finally, McIlrath & Eck LLC raised its position in shares of Primoris Services by 109.8% during the third quarter. McIlrath & Eck LLC now owns 277 shares of the company’s stock worth $38,000 after purchasing an additional 145 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PRIM shares. Wall Street Zen lowered Primoris Services from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. UBS Group upped their price target on Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Wells Fargo & Company upped their price target on Primoris Services from $138.00 to $168.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. DA Davidson set a $180.00 price target on Primoris Services in a report on Wednesday, February 25th. Finally, Zacks Research downgraded Primoris Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.31.

Primoris Services Trading Down 2.2%

Shares of Primoris Services stock opened at $162.63 on Thursday. The stock’s fifty day moving average is $150.62. Primoris Services Corporation has a 12-month low of $53.13 and a 12-month high of $174.43. The company has a market capitalization of $8.82 billion, a P/E ratio of 32.33 and a beta of 1.38. 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 announced its quarterly 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 return on equity of 18.67% and a net margin of 3.63%.The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the company posted $1.13 earnings per share. Primoris Services’s revenue was up 6.7% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Announces Dividend

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

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.