27,970 Shares in Primoris Services Corporation $PRIM Purchased by Candelo Capital Management LP

Candelo Capital Management LP purchased a new stake in shares of Primoris Services Corporation (NYSE:PRIM) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 27,970 shares of the company’s stock, valued at approximately $3,841,000. Primoris Services comprises approximately 3.3% of Candelo Capital Management LP’s holdings, making the stock its 18th largest holding.

A number of other large investors also recently bought and sold shares of the stock. GSA Capital Partners LLP purchased a new stake in Primoris Services during the third quarter worth $1,726,000. J.W. Cole Advisors Inc. acquired a new stake in Primoris Services during the third quarter valued at $1,193,000. Federated Hermes Inc. increased its holdings in Primoris Services by 5.8% in the second quarter. Federated Hermes Inc. now owns 347,785 shares of the company’s stock valued at $27,106,000 after buying an additional 18,951 shares in the last quarter. Leuthold Group LLC increased its holdings in Primoris Services by 1,350.3% in the third quarter. Leuthold Group LLC now owns 48,947 shares of the company’s stock valued at $6,722,000 after buying an additional 45,572 shares in the last quarter. Finally, Boston Partners raised its position in shares of Primoris Services by 14.1% in the second quarter. Boston Partners now owns 564,898 shares of the company’s stock worth $47,823,000 after acquiring an additional 69,996 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Stock Up 0.9%

PRIM stock opened at $133.49 on Friday. Primoris Services Corporation has a 52 week low of $49.10 and a 52 week high of $174.43. 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 stock’s 50-day moving average is $148.23. The stock has a market capitalization of $7.22 billion, a PE ratio of 26.54 and a beta of 1.36.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data 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 company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the firm posted $1.13 EPS. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Primoris Services’s payout ratio is currently 6.36%.

Wall Street Analyst Weigh In

PRIM has been the topic of several recent analyst reports. Wall Street Zen cut Primoris Services from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. The Goldman Sachs Group upped their price target on Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a report on Wednesday, January 28th. Cantor Fitzgerald set a $160.00 price target on Primoris Services and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Wells Fargo & Company raised their price objective on Primoris Services from $138.00 to $168.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. Finally, Zacks Research cut Primoris Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. One equities 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $153.20.

Primoris Services 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.