Thrivent Financial for Lutherans Purchases Shares of 37,127 Primoris Services Corporation $PRIM

Thrivent Financial for Lutherans purchased a new stake in shares of Primoris Services Corporation (NYSE:PRIM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 37,127 shares of the company’s stock, valued at approximately $4,609,000. Thrivent Financial for Lutherans owned approximately 0.07% of Primoris Services at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in Primoris Services during the 3rd quarter valued at $1,726,000. J.W. Cole Advisors Inc. bought a new stake in Primoris Services during the 3rd quarter valued at $1,193,000. Nordea Investment Management AB bought a new stake in Primoris Services during the 4th quarter valued at $7,181,000. Leuthold Group LLC increased its stake in Primoris Services by 1,350.3% during the 3rd quarter. Leuthold Group LLC now owns 48,947 shares of the company’s stock valued at $6,722,000 after purchasing an additional 45,572 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Primoris Services by 3.5% during the 3rd quarter. Federated Hermes Inc. now owns 359,876 shares of the company’s stock valued at $49,422,000 after purchasing an additional 12,091 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.

Primoris Services Price Performance

PRIM opened at $117.38 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 25.85 and a beta of 1.50. The firm’s fifty day moving average price is $143.61 and its two-hundred day moving average price is $139.91. Primoris Services Corporation has a 1 year low of $68.52 and a 1 year high of $205.50.

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 analysts’ consensus estimates of $0.87 by ($0.28). The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.Primoris Services’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, analysts anticipate that Primoris Services Corporation will post 4.55 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Primoris Services’s payout ratio is 7.05%.

Analysts Set New Price Targets

PRIM has been the topic of a number of analyst reports. Wolfe Research initiated coverage on shares of Primoris Services in a report on Thursday, April 9th. They set an “outperform” rating and a $183.00 price objective on the stock. JPMorgan Chase & Co. lifted 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. Wall Street Zen downgraded shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Zacks Research downgraded shares of Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Finally, 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 report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Primoris Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.20.

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.