Primoris Services Corporation $PRIM Shares Sold by Aventail Capital Group LP

Aventail Capital Group LP cut its stake in shares of Primoris Services Corporation (NYSE:PRIM) by 43.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 74,177 shares of the company’s stock after selling 56,703 shares during the period. Aventail Capital Group LP’s holdings in Primoris Services were worth $9,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of Primoris Services during the third quarter worth $1,726,000. Nordea Investment Management AB acquired a new stake in shares of Primoris Services during the fourth quarter worth $7,181,000. New York State Teachers Retirement System lifted its holdings in shares of Primoris Services by 327.8% during the fourth quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock worth $2,594,000 after purchasing an additional 16,008 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Primoris Services by 509.6% during the fourth quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock worth $41,800,000 after purchasing an additional 281,482 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Primoris Services by 2,338.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock worth $39,033,000 after purchasing an additional 301,532 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PRIM shares. Wall Street Zen downgraded Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Guggenheim raised their target price on Primoris Services from $184.00 to $195.00 and gave the company a “buy” rating in a report on Monday, April 20th. Cantor Fitzgerald reissued a “neutral” rating on shares of Primoris Services in a report on Tuesday, June 9th. Needham & Company LLC reduced their target price on Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. raised their target price on Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Primoris Services has a consensus rating of “Moderate Buy” and a consensus price target of $153.93.

Primoris Services Price Performance

Primoris Services stock opened at $101.57 on Thursday. The company has a market cap of $5.51 billion, a P/E ratio of 22.37 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. Primoris Services Corporation has a one year low of $73.62 and a one year high of $205.50. The business has a fifty day moving average of $133.77 and a two-hundred day moving average of $138.87.

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

Primoris Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend 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%.

Insider Buying and Selling at Primoris Services

In other news, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the completion of the transaction, the insider owned 27,574 shares of the company’s stock, valued at $3,525,611.64. The trade was a 51.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the transaction, the director directly owned 14,941 shares of the company’s stock, valued at $1,779,323.69. This trade represents a 57.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% 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.