Insider Selling: Primoris Services (NYSE:PRIM) Director Sells $2,381,800.00 in Stock

Primoris Services Corporation (NYSE:PRIM) Director David Lee King sold 20,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the sale, the director directly owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Primoris Services Trading Down 0.5%

Shares of PRIM stock opened at $125.93 on Friday. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 27.74 and a beta of 1.50. The stock has a 50-day moving average of $142.50 and a 200-day moving average of $139.75. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a 1-year low of $70.68 and a 1-year high of $205.50.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, equities research analysts forecast that Primoris Services Corporation will post 4.55 earnings per share for the current year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 annualized dividend and a yield of 0.3%. Primoris Services’s dividend payout ratio (DPR) is currently 7.05%.

Analyst Ratings Changes

Several research firms recently commented on PRIM. Cantor Fitzgerald raised their target price on Primoris Services from $113.00 to $124.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. JPMorgan Chase & Co. raised their target price on Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 1st. Guggenheim raised their target price on Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Zacks Research cut Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, Mizuho raised Primoris Services from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $175.00 to $135.00 in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.20.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new position in shares of Primoris Services in the third quarter valued at approximately $1,726,000. J.W. Cole Advisors Inc. bought a new position in shares of Primoris Services in the third quarter valued at approximately $1,193,000. Nordea Investment Management AB bought a new position in shares of Primoris Services in the fourth quarter valued at approximately $7,181,000. Leuthold Group LLC lifted its holdings in shares of 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 purchasing an additional 45,572 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in shares of Primoris Services by 327.8% in the fourth quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock valued at $2,594,000 after purchasing an additional 16,008 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.

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.