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Despite reduced stakes by major investors, Primoris Services reported strong earnings and increased its dividend.
Lord Abbett & Co. LLC reduced its stake in Primoris Services by selling 763 shares, while other investors like Tidal Investments and Franklin Resources also trimmed their holdings.
Primoris Services' third-quarter earnings beat expectations, with earnings of $1.22 per share and $1.65 billion in revenue.
The company announced a quarterly dividend of $0.08 per share, and received positive analyst ratings and increased price targets from UBS Group, JPMorgan Chase, and KeyCorp.
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A pesar de la reducción de las participaciones de los principales inversores, Primoris Services informó de que los beneficios eran elevados y aumentó su dividendo.