GW&K Investment Management LLC Lowers Stock Position in Primoris Services Co. $PRIM

GW&K Investment Management LLC lessened its stake in Primoris Services Co. (NASDAQ:PRIM) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 507,214 shares of the construction company’s stock after selling 14,016 shares during the period. GW&K Investment Management LLC owned approximately 0.94% of Primoris Services worth $69,656,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. First Trust Advisors LP lifted its holdings in shares of Primoris Services by 56.4% during the 2nd quarter. First Trust Advisors LP now owns 1,833,105 shares of the construction company’s stock worth $142,872,000 after acquiring an additional 660,915 shares during the last quarter. State Street Corp increased its stake in Primoris Services by 2.6% in the second quarter. State Street Corp now owns 1,320,947 shares of the construction company’s stock valued at $103,058,000 after acquiring an additional 33,399 shares during the last quarter. Geode Capital Management LLC increased its stake in Primoris Services by 1.9% in the second quarter. Geode Capital Management LLC now owns 1,281,524 shares of the construction company’s stock valued at $99,895,000 after acquiring an additional 24,254 shares during the last quarter. Invesco Ltd. raised its position in Primoris Services by 9.9% during the second quarter. Invesco Ltd. now owns 1,142,010 shares of the construction company’s stock valued at $89,008,000 after purchasing an additional 103,038 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Primoris Services by 69.6% during the third quarter. American Century Companies Inc. now owns 1,019,856 shares of the construction company’s stock worth $140,057,000 after purchasing an additional 418,374 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

Primoris Services Stock Down 1.6%

Shares of Primoris Services stock opened at $144.78 on Thursday. The company’s 50 day moving average price is $147.17 and its 200-day moving average price is $134.39. Primoris Services Co. has a 52-week low of $49.10 and a 52-week high of $174.43. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 47.94 and a beta of 1.36. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38.

Primoris Services (NASDAQ:PRIM) last posted its earnings results on Monday, February 23rd. The construction company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. Primoris Services’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. Equities research analysts forecast that Primoris Services Co. will post 3.26 EPS for the current year.

Primoris Services Dividend Announcement

The business also recently disclosed 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. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 31st. Primoris Services’s dividend payout ratio is 6.36%.

Insider Transactions at Primoris Services

In related news, Director John P. Schauerman sold 7,815 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $136.00, for a total value of $1,062,840.00. Following the sale, the director directly owned 74,466 shares of the company’s stock, valued at $10,127,376. This represents a 9.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carla S. Mashinski sold 2,082 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $135.14, for a total value of $281,361.48. Following the completion of the sale, the director owned 21,530 shares in the company, valued at approximately $2,909,564.20. The trade was a 8.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. UBS Group increased their price objective on Primoris Services from $165.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Cantor Fitzgerald set a $160.00 target price on Primoris Services and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. KeyCorp increased their price target on shares of Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Mizuho lifted their price target on shares of Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Primoris Services currently has an average rating of “Moderate Buy” and an average target price of $153.20.

Primoris Services Profile

Primoris Services Corporation is a diversified infrastructure construction company that provides a wide range of specialty contracting services across North America. The company’s operations span pipe fabrication, pipeline construction, mechanical and electrical installations, civil and structural work, and maintenance services. Primoris serves clients in the energy, utility, transportation, water and wastewater, and industrial markets, delivering turnkey solutions from design and engineering through construction and operations support.

Within its two primary business segments—Pipeline & Facility and Civil & Utility—Primoris offers pipeline installation, compressor station construction, pump station projects, and above-ground facility work.