First Trust Advisors LP Has $239.90 Million Stake in Primoris Services Co. $PRIM

First Trust Advisors LP trimmed its holdings in shares of Primoris Services Co. (NASDAQ:PRIM) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,746,912 shares of the construction company’s stock after selling 86,193 shares during the period. First Trust Advisors LP’s holdings in Primoris Services were worth $239,903,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. SBI Securities Co. Ltd. grew its holdings in Primoris Services by 224.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the construction company’s stock worth $29,000 after acquiring an additional 148 shares during the period. Osterweis Capital Management Inc. acquired a new position in shares of Primoris Services in the 2nd quarter valued at $34,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Primoris Services in the 3rd quarter valued at $37,000. Cullen Frost Bankers Inc. bought a new position in shares of Primoris Services in the 3rd quarter worth $37,000. Finally, McIlrath & Eck LLC grew its stake in shares of Primoris Services by 109.8% during the third quarter. McIlrath & Eck LLC now owns 277 shares of the construction company’s stock worth $38,000 after purchasing an additional 145 shares during the period. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Mizuho upped their price objective on Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. DA Davidson set a $180.00 target price on Primoris Services in a research report on Wednesday, February 25th. Wells Fargo & Company upped their price target on Primoris Services from $138.00 to $168.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Cantor Fitzgerald set a $160.00 price target on shares of Primoris Services and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Finally, UBS Group lifted their price objective on shares of Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $153.20.

Primoris Services Stock Performance

PRIM stock opened at $133.11 on Friday. Primoris Services Co. has a 1-year low of $49.10 and a 1-year high of $174.43. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The firm has a market cap of $7.20 billion, a PE ratio of 44.08 and a beta of 1.36. The business’s 50-day moving average price is $147.42 and its two-hundred day moving average price is $134.72.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings results on Monday, February 23rd. The construction company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. As a group, research analysts forecast that Primoris Services Co. will post 3.26 earnings per share for the current year.

Primoris Services Announces Dividend

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

Insider Activity at Primoris Services

In other news, Director John P. Schauerman sold 7,815 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $136.00, for a total value of $1,062,840.00. Following the completion of the transaction, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carla S. Mashinski sold 2,082 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $135.14, for a total transaction of $281,361.48. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.40% of the company’s stock.

About Primoris Services

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.