Primoris Services Corporation $PRIM Shares Acquired by Marietta Investment Partners LLC

Marietta Investment Partners LLC lifted its holdings in shares of Primoris Services Corporation (NYSE:PRIM) by 47.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,082 shares of the company’s stock after purchasing an additional 6,500 shares during the quarter. Marietta Investment Partners LLC’s holdings in Primoris Services were worth $2,493,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PRIM. Norges Bank acquired a new stake in shares of Primoris Services during the fourth quarter worth $103,368,000. Vanguard Group Inc. boosted its holdings in shares of Primoris Services by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after purchasing an additional 466,192 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Primoris Services by 69.6% during the third quarter. American Century Companies Inc. now owns 1,019,856 shares of the company’s stock worth $140,057,000 after purchasing an additional 418,374 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Primoris Services by 136.0% during the third quarter. Wellington Management Group LLP now owns 663,985 shares of the company’s stock worth $91,185,000 after purchasing an additional 382,597 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Primoris Services by 1,093.2% during the third quarter. Mackenzie Financial Corp now owns 380,340 shares of the company’s stock worth $52,232,000 after purchasing an additional 348,465 shares during the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Insider Activity 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 stock was sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the sale, the director directly owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the transaction, the insider owned 27,574 shares in the company, valued at $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PRIM. Cantor Fitzgerald raised their price objective on Primoris Services from $113.00 to $124.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Wall Street Zen cut Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Mizuho upgraded Primoris Services from a “neutral” rating to an “outperform” rating and decreased their price objective for the stock from $175.00 to $135.00 in a report on Monday, May 11th. KeyCorp decreased their price objective on Primoris Services from $179.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, Zacks Research lowered Primoris Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Primoris Services presently has a consensus rating of “Moderate Buy” and an average price target of $156.20.

Primoris Services Trading Up 1.6%

NYSE:PRIM opened at $126.33 on Thursday. The business’s 50-day moving average is $141.43 and its two-hundred day moving average is $139.87. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. Primoris Services Corporation has a 12 month low of $70.68 and a 12 month high of $205.50. The firm has a market capitalization of $6.85 billion, a PE ratio of 27.82 and a beta of 1.36.

Primoris Services (NYSE:PRIM) last announced its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The firm’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Research 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 issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, June 30th. Primoris Services’s payout ratio is 7.05%.

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.