WCM Investment Management LLC Acquires Shares of 124,224 Primoris Services Corporation $PRIM

WCM Investment Management LLC bought a new position in Primoris Services Corporation (NYSE:PRIM) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 124,224 shares of the company’s stock, valued at approximately $16,696,000. WCM Investment Management LLC owned approximately 0.23% of Primoris Services at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Harbour Investments Inc. purchased a new position in Primoris Services during the fourth quarter worth about $33,000. Root Financial Partners LLC increased its position in shares of Primoris Services by 43.1% during the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in Primoris Services during the second quarter worth about $34,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Primoris Services by 30.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock worth $43,000 after acquiring an additional 81 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Primoris Services by 34.5% during the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after purchasing an additional 194 shares during the period. Institutional investors and hedge funds own 91.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on PRIM shares. Guggenheim reissued a “buy” rating and issued a $162.00 target price on shares of Primoris Services in a report on Tuesday, June 23rd. JPMorgan Chase & Co. raised Primoris Services from a “neutral” rating to an “overweight” rating and upped their price target for the company from $105.00 to $116.00 in a report on Monday, June 29th. Wolfe Research reiterated an “outperform” rating and issued a $149.00 price target on shares of Primoris Services in a research note on Monday, June 15th. Wells Fargo & Company dropped their target price on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 23rd. Finally, Zacks Research lowered shares of Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $142.13.

Primoris Services Stock Up 0.2%

Shares of NYSE:PRIM opened at $86.10 on Monday. Primoris Services Corporation has a fifty-two week low of $65.00 and a fifty-two week high of $205.50. 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 firm’s 50-day simple moving average is $104.26 and its 200-day simple moving average is $133.28. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 18.96 and a beta of 1.41.

Primoris Services (NYSE:PRIM) last issued 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). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the company posted $0.98 earnings per share. The business’s quarterly revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, equities research analysts predict that Primoris Services Corporation will post 1.88 earnings per share for the current year.

Primoris Services Announces Dividend

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

Insider Transactions at Primoris Services

In other news, insider John M. Perisich sold 29,707 shares of Primoris Services 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 completion of the sale, the insider directly owned 27,574 shares in the company, valued at approximately $3,525,611.64. This trade represents a 51.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Lee King sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the sale, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Primoris Services Company 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.