First Trust Advisors LP Increases Holdings in Primoris Services Corporation $PRIM

First Trust Advisors LP increased its position in Primoris Services Corporation (NYSE:PRIM) by 47.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,886,163 shares of the company’s stock after acquiring an additional 928,155 shares during the period. First Trust Advisors LP owned approximately 0.05% of Primoris Services worth $412,837,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PRIM. Harbour Investments Inc. acquired a new position in Primoris Services during the fourth quarter worth $33,000. Root Financial Partners LLC grew its holdings in Primoris Services by 43.1% in the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the last quarter. Osterweis Capital Management Inc. acquired a new stake in Primoris Services in the second quarter valued at $34,000. Cullen Frost Bankers Inc. increased its position in shares of Primoris Services by 30.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Primoris Services by 34.5% in the first quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after buying an additional 194 shares in the last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.

Primoris Services Stock Up 1.1%

Shares of NYSE:PRIM opened at $87.58 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $4.75 billion, a P/E ratio of 19.29 and a beta of 1.41. Primoris Services Corporation has a 52-week low of $65.00 and a 52-week high of $205.50. The stock’s fifty day simple moving average is $103.20 and its 200-day simple moving average is $132.76.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, equities research analysts forecast that Primoris Services Corporation will post 1.87 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Primoris Services’s dividend payout ratio (DPR) is currently 7.05%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PRIM shares. Needham & Company LLC cut their price target on Primoris Services from $188.00 to $172.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Cantor Fitzgerald lowered their price objective on shares of Primoris Services from $124.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, June 25th. Weiss Ratings downgraded shares of Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Roth Capital restated a “buy” rating and set a $100.00 target price on shares of Primoris Services in a research report on Monday. Finally, Wells Fargo & Company reduced their price target on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 23rd. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Primoris Services has an average rating of “Moderate Buy” and an average target price of $137.47.

Insider Transactions at Primoris Services

In related news, Director David Lee King sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the transaction, the director owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the transaction, the insider directly owned 27,574 shares in the company, valued at $3,525,611.64. The trade was a 51.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

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.