Primoris Services Corporation $PRIM Shares Sold by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC lessened its holdings in Primoris Services Corporation (NYSE:PRIM) by 22.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 289,907 shares of the company’s stock after selling 84,893 shares during the quarter. Primoris Services accounts for approximately 1.5% of Encompass Capital Advisors LLC’s holdings, making the stock its 24th largest holding. Encompass Capital Advisors LLC’s holdings in Primoris Services were worth $35,989,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Harbour Investments Inc. acquired a new stake in Primoris Services in the fourth quarter worth about $33,000. Salomon & Ludwin LLC acquired a new stake in Primoris Services in the fourth quarter worth about $44,000. Cullen Frost Bankers Inc. boosted its holdings in Primoris Services by 30.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock worth $43,000 after acquiring an additional 81 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Primoris Services by 120.4% in the fourth quarter. GAMMA Investing LLC now owns 357 shares of the company’s stock worth $44,000 after acquiring an additional 195 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in Primoris Services in the second quarter worth about $34,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services Trading Down 1.6%

Shares of NYSE:PRIM opened at $101.57 on Thursday. Primoris Services Corporation has a 52-week low of $73.62 and a 52-week high of $205.50. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 22.37 and a beta of 1.36. 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 business has a 50-day moving average price of $133.77 and a 200-day moving average price of $138.87.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities analysts predict that Primoris Services Corporation will post 4.55 EPS for the current year.

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, June 30th. Primoris Services’s dividend payout ratio (DPR) is presently 7.05%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PRIM. Wolfe Research reissued an “outperform” rating and issued a $149.00 price target on shares of Primoris Services in a report on Monday. DA Davidson set a $180.00 price target on Primoris Services in a report on Wednesday, February 25th. Wall Street Zen downgraded Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Zacks Research downgraded Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Finally, Guggenheim raised their price objective on Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Primoris Services presently has an average rating of “Moderate Buy” and an average target price of $153.93.

Insider Activity

In related news, Director David Lee King sold 20,000 shares of Primoris Services 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 completion of the transaction, the director directly owned 14,941 shares in the company, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $3,798,337.02. Following the transaction, the insider owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

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.