Primoris Services Co. $PRIM Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC decreased its position in Primoris Services Co. (NASDAQ:PRIM) by 2.7% in the third quarter, Holdings Channel reports. The institutional investor owned 507,214 shares of the construction company’s stock after selling 14,016 shares during the period. GW&K Investment Management LLC’s holdings in Primoris Services were worth $69,656,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP raised its position in shares of Primoris Services by 56.4% in the second quarter. First Trust Advisors LP now owns 1,833,105 shares of the construction company’s stock valued at $142,872,000 after buying an additional 660,915 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Primoris Services by 229.3% during the 2nd quarter. American Century Companies Inc. now owns 601,482 shares of the construction company’s stock worth $46,880,000 after purchasing an additional 418,805 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in Primoris Services in the third quarter valued at approximately $50,071,000. Westfield Capital Management Co. LP increased its position in shares of Primoris Services by 44.8% during the third quarter. Westfield Capital Management Co. LP now owns 947,308 shares of the construction company’s stock worth $130,094,000 after purchasing an additional 293,085 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Primoris Services by 838.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 243,859 shares of the construction company’s stock valued at $19,006,000 after purchasing an additional 217,873 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PRIM. Wells Fargo & Company increased their price target on shares of Primoris Services from $138.00 to $168.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. JPMorgan Chase & Co. increased their price objective on Primoris Services from $143.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Guggenheim increased their price target on Primoris Services from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. The Goldman Sachs Group raised their target price on shares of Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Finally, KeyCorp boosted their price target on Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $153.20.

Primoris Services Trading Down 1.6%

Primoris Services stock opened at $144.78 on Thursday. The firm has a 50 day simple moving average of $147.17 and a 200-day simple moving average of $134.39. The stock has a market capitalization of $7.83 billion, a PE ratio of 47.94 and a beta of 1.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. Primoris Services Co. has a 12-month low of $49.10 and a 12-month 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 firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 EPS. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. As a group, equities research analysts expect that Primoris Services Co. will post 3.26 EPS for the current fiscal year.

Primoris Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.08 per share. 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 payout ratio is currently 6.36%.

Insider Activity at Primoris Services

In related news, Director John P. Schauerman sold 7,815 shares of the stock in a transaction dated 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 sale, the director owned 74,466 shares in the company, valued at approximately $10,127,376. This trade 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 accessible through this hyperlink. Also, Director Carla S. Mashinski sold 2,082 shares of Primoris Services 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 owned 21,530 shares in the company, 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. 1.40% of the stock is currently owned by corporate insiders.

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.