Neo Ivy Capital Management Makes New $919,000 Investment in Primoris Services Co. $PRIM

Neo Ivy Capital Management bought a new position in shares of Primoris Services Co. (NASDAQ:PRIM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 6,692 shares of the construction company’s stock, valued at approximately $919,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Uncommon Cents Investing LLC raised its stake in shares of Primoris Services by 2.1% in the 3rd quarter. Uncommon Cents Investing LLC now owns 3,900 shares of the construction company’s stock valued at $536,000 after purchasing an additional 80 shares during the period. Assetmark Inc. lifted its holdings in shares of Primoris Services by 9.7% in the third quarter. Assetmark Inc. now owns 953 shares of the construction company’s stock valued at $131,000 after purchasing an additional 84 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Primoris Services by 2.2% during the second quarter. Ameritas Investment Partners Inc. now owns 5,528 shares of the construction company’s stock worth $431,000 after buying an additional 121 shares during the period. Oliver Luxxe Assets LLC boosted its position in shares of Primoris Services by 0.4% during the third quarter. Oliver Luxxe Assets LLC now owns 32,308 shares of the construction company’s stock worth $4,437,000 after buying an additional 124 shares during the period. Finally, Ethic Inc. grew its holdings in shares of Primoris Services by 4.3% during the third quarter. Ethic Inc. now owns 3,163 shares of the construction company’s stock worth $434,000 after buying an additional 131 shares in the last quarter. 91.82% of the stock is owned by institutional investors.

Primoris Services Price Performance

NASDAQ:PRIM opened at $133.11 on Friday. Primoris Services Co. has a 52-week low of $49.10 and a 52-week high of $174.43. The company has a market cap of $7.20 billion, a P/E ratio of 44.08 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. The stock’s 50-day simple moving average is $147.42 and its 200 day simple moving average is $134.72.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings results on Monday, February 23rd. The construction company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.95 by $0.13. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. As a group, sell-side analysts forecast that Primoris Services Co. will post 3.26 EPS for the current fiscal 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 issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Primoris Services’s dividend payout ratio is presently 6.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. DA Davidson set a $180.00 target price on Primoris Services in a research report on Wednesday, February 25th. JPMorgan Chase & Co. upped their price target on Primoris Services from $143.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Mizuho raised 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. UBS Group lifted their price objective on shares of Primoris Services from $165.00 to $176.00 and gave the company a “buy” rating in a report 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 research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $153.20.

Insider Buying and Selling at Primoris Services

In related news, Director John P. Schauerman sold 7,815 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director directly owned 74,466 shares of the company’s stock, valued at approximately $10,127,376. This trade represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carla S. Mashinski sold 2,082 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $135.14, for a total transaction of $281,361.48. Following the sale, the director directly owned 21,530 shares in the company, valued at $2,909,564.20. This trade represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is currently owned by company insiders.

About Primoris Services

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.