Primoris Services Corporation $PRIM Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL cut its stake in shares of Primoris Services Corporation (NYSE:PRIM) by 37.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,502 shares of the company’s stock after selling 6,389 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Primoris Services were worth $1,442,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PRIM. First Trust Advisors LP raised its holdings in Primoris Services by 56.4% during the 2nd quarter. First Trust Advisors LP now owns 1,833,105 shares of the company’s stock worth $142,872,000 after buying an additional 660,915 shares during the period. American Century Companies Inc. lifted its stake in Primoris Services by 69.6% during the third quarter. American Century Companies Inc. now owns 1,019,856 shares of the company’s stock valued at $140,057,000 after buying an additional 418,374 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Primoris Services by 136.0% in the third quarter. Wellington Management Group LLP now owns 663,985 shares of the company’s stock worth $91,185,000 after buying an additional 382,597 shares during the period. Hennessy Advisors Inc. purchased a new position in shares of Primoris Services in the third quarter worth approximately $50,071,000. Finally, Mackenzie Financial Corp increased its position in shares of Primoris Services by 1,093.2% in the third quarter. Mackenzie Financial Corp now owns 380,340 shares of the company’s stock worth $52,232,000 after acquiring an additional 348,465 shares in the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Stock Performance

Primoris Services stock opened at $143.67 on Monday. Primoris Services Corporation has a twelve month low of $49.10 and a twelve month high of $174.43. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of 28.56 and a beta of 1.36. The company has a 50 day moving average of $149.73.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the business posted $1.13 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Guggenheim upped their price target on shares of Primoris Services from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group lifted their price objective on shares of Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Zacks Research downgraded shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Wall Street Zen lowered Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Primoris Services in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Primoris Services currently has a consensus rating of “Moderate Buy” and an average target price of $153.20.

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.