19,538 Shares in Primoris Services Corporation $PRIM Bought by WBI Investments LLC

WBI Investments LLC purchased a new stake in Primoris Services Corporation (NYSE:PRIM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 19,538 shares of the company’s stock, valued at approximately $2,683,000. Primoris Services makes up 0.7% of WBI Investments LLC’s portfolio, making the stock its 24th largest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. Uncommon Cents Investing LLC lifted its position in shares of Primoris Services by 2.1% in the 3rd quarter. Uncommon Cents Investing LLC now owns 3,900 shares of the company’s stock worth $536,000 after purchasing an additional 80 shares during the period. Assetmark Inc. increased its position in shares of Primoris Services by 9.7% during the third quarter. Assetmark Inc. now owns 953 shares of the company’s stock valued at $131,000 after buying an additional 84 shares during the period. NewEdge Advisors LLC raised its stake in Primoris Services by 5.5% in the third quarter. NewEdge Advisors LLC now owns 2,071 shares of the company’s stock worth $284,000 after buying an additional 108 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Primoris Services by 2.2% in the second quarter. Ameritas Investment Partners Inc. now owns 5,528 shares of the company’s stock worth $431,000 after buying an additional 121 shares during the period. Finally, Oliver Luxxe Assets LLC grew its holdings in shares of Primoris Services by 0.4% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 32,308 shares of the company’s stock worth $4,437,000 after acquiring an additional 124 shares during the period. 91.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on PRIM. UBS Group increased their target price on Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Cantor Fitzgerald set a $160.00 price target on Primoris Services and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. The Goldman Sachs Group raised their price objective on Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a research report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Primoris Services from $143.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $153.20.

Primoris Services Stock Down 0.8%

Primoris Services stock opened at $140.26 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $7.58 billion, a P/E ratio of 27.88 and a beta of 1.36. The stock has a 50 day moving average of $148.66. Primoris Services Corporation has a twelve month low of $49.10 and a twelve month high of $174.43.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings data on Monday, February 23rd. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.13. The business 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 18.67% and a net margin of 3.63%.The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. Primoris Services’s dividend payout ratio (DPR) is presently 6.36%.

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.