NewSquare Capital LLC Makes New $7.40 Million Investment in Primoris Services Co. $PRIM

NewSquare Capital LLC bought a new stake in Primoris Services Co. (NASDAQ:PRIM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 53,882 shares of the construction company’s stock, valued at approximately $7,400,000. NewSquare Capital LLC owned approximately 0.10% of Primoris Services as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PRIM. Uncommon Cents Investing LLC raised its position in Primoris Services by 2.1% during the third quarter. Uncommon Cents Investing LLC now owns 3,900 shares of the construction company’s stock valued at $536,000 after buying an additional 80 shares during the period. Assetmark Inc. increased its holdings in shares of Primoris Services by 9.7% in the 3rd quarter. Assetmark Inc. now owns 953 shares of the construction company’s stock valued at $131,000 after purchasing an additional 84 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of Primoris Services by 2.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,528 shares of the construction company’s stock valued at $431,000 after purchasing an additional 121 shares during the period. Oliver Luxxe Assets LLC lifted its position in shares of Primoris Services by 0.4% in the third quarter. Oliver Luxxe Assets LLC now owns 32,308 shares of the construction company’s stock worth $4,437,000 after purchasing an additional 124 shares in the last quarter. Finally, Ethic Inc. boosted 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 purchasing an additional 131 shares during the period. Institutional investors and hedge funds own 91.82% of the company’s stock.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, Director Carla S. Mashinski sold 2,082 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $135.14, for a total value of $281,361.48. Following the completion of the sale, the director directly owned 21,530 shares of the company’s stock, valued at $2,909,564.20. This represents a 8.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Schauerman sold 7,815 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $136.00, for a total transaction of $1,062,840.00. Following the transaction, the director owned 74,466 shares in the company, valued at approximately $10,127,376. The trade was a 9.50% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

PRIM has been the topic of several research reports. Cantor Fitzgerald set a $160.00 price objective on shares of Primoris Services and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Mizuho increased their target price on shares of Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Guggenheim raised their target price on Primoris Services from $160.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Needham & Company LLC reiterated a “buy” rating on shares of Primoris Services in a research note on Wednesday, November 5th. Finally, KeyCorp raised their price objective on Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Primoris Services currently has a consensus rating of “Moderate Buy” and an average price target of $153.20.

Primoris Services Trading Down 1.6%

Shares of NASDAQ:PRIM opened at $144.78 on Thursday. 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 moving average is $147.17 and its 200-day moving average is $134.39. The company has a market cap of $7.83 billion, a P/E ratio of 47.94 and a beta of 1.36. Primoris Services Co. has a 52-week low of $49.10 and a 52-week high of $174.43.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data on Monday, February 23rd. The construction company reported $1.08 earnings per share for the quarter, topping the consensus estimate 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 15.23% and a net margin of 2.68%.The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. Equities research analysts predict that Primoris Services Co. will post 3.26 earnings per share for the current year.

Primoris Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given 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 currently 6.36%.

Primoris Services Company 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.