6,692 Shares in Primoris Services Co. $PRIM Purchased by Neo Ivy Capital Management

Neo Ivy Capital Management purchased a new position in shares of Primoris Services Co. (NASDAQ:PRIM) during the third quarter, HoldingsChannel reports. The firm purchased 6,692 shares of the construction company’s stock, valued at approximately $919,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRIM. First Trust Advisors LP increased its holdings in shares of Primoris Services by 56.4% during the 2nd quarter. First Trust Advisors LP now owns 1,833,105 shares of the construction company’s stock worth $142,872,000 after acquiring an additional 660,915 shares during the last quarter. State Street Corp raised its stake in Primoris Services by 2.6% in the 2nd quarter. State Street Corp now owns 1,320,947 shares of the construction company’s stock valued at $103,058,000 after acquiring an additional 33,399 shares during the period. Geode Capital Management LLC lifted its holdings in Primoris Services by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,281,524 shares of the construction company’s stock valued at $99,895,000 after purchasing an additional 24,254 shares during the last quarter. Invesco Ltd. boosted its position in Primoris Services by 9.9% during the second quarter. Invesco Ltd. now owns 1,142,010 shares of the construction company’s stock worth $89,008,000 after purchasing an additional 103,038 shares during the period. Finally, American Century Companies Inc. boosted its position in Primoris Services by 69.6% during the third quarter. American Century Companies Inc. now owns 1,019,856 shares of the construction company’s stock worth $140,057,000 after purchasing an additional 418,374 shares during the period. Institutional investors own 91.82% of the company’s stock.

Wall Street Analysts Forecast Growth

PRIM has been the topic of several research analyst reports. Mizuho increased their price objective on shares of Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. DA Davidson set a $180.00 target price on shares of Primoris Services in a research note on Wednesday, February 25th. The Goldman Sachs Group lifted their target price on shares of Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a report on Wednesday, January 28th. Cantor Fitzgerald set a $160.00 price target on shares of Primoris Services and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company increased their price target on shares of Primoris Services from $138.00 to $168.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Primoris Services currently has an average rating of “Moderate Buy” and a consensus price target of $153.20.

Primoris Services Stock Performance

Shares of NASDAQ PRIM opened at $133.11 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 44.08 and a beta of 1.36. The stock’s fifty day moving average price is $147.42 and its two-hundred day moving average price is $134.72. Primoris Services Co. has a one year low of $49.10 and a one year high of $174.43.

Primoris Services (NASDAQ:PRIM) last posted its earnings results on Monday, February 23rd. The construction company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. On average, equities analysts forecast that Primoris Services Co. will post 3.26 EPS for the current year.

Primoris Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.08 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.32 annualized dividend and a yield of 0.2%. Primoris Services’s payout ratio is 6.36%.

Insider Transactions at Primoris Services

In other Primoris Services news, Director Carla S. Mashinski sold 2,082 shares of the business’s stock in a transaction dated 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 owned 21,530 shares of the company’s stock, valued at $2,909,564.20. The trade was a 8.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John P. Schauerman sold 7,815 shares of the firm’s stock in a transaction that occurred on 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 directly owned 74,466 shares in the company, valued at $10,127,376. This represents a 9.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.40% of the company’s stock.

Primoris Services 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.