Gabelli Funds LLC Lowers Stock Position in Primoris Services Co. $PRIM

Gabelli Funds LLC cut its position in shares of Primoris Services Co. (NASDAQ:PRIM) by 18.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,254 shares of the construction company’s stock after selling 15,888 shares during the quarter. Gabelli Funds LLC owned approximately 0.13% of Primoris Services worth $9,373,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PRIM. SBI Securities Co. Ltd. increased its stake in Primoris Services by 224.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the construction company’s stock valued at $29,000 after buying an additional 148 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of Primoris Services in the 2nd quarter worth approximately $34,000. Blue Bell Private Wealth Management LLC purchased a new position in shares of Primoris Services in the 3rd quarter worth approximately $37,000. Cullen Frost Bankers Inc. bought a new position in shares of Primoris Services in the third quarter valued at approximately $37,000. Finally, McIlrath & Eck LLC grew its holdings in shares of Primoris Services by 109.8% in the third quarter. McIlrath & Eck LLC now owns 277 shares of the construction company’s stock valued at $38,000 after acquiring an additional 145 shares in the last quarter. 91.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PRIM has been the topic of a number of recent analyst reports. Cantor Fitzgerald set a $160.00 price target on Primoris Services and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Guggenheim boosted their price objective on Primoris Services from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Mizuho upped their price objective on Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. DA Davidson set a $180.00 target price on Primoris Services in a research report on Wednesday, February 25th. Finally, Wells Fargo & Company lifted their target price on Primoris Services from $138.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $153.20.

Primoris Services Price Performance

Shares of NASDAQ PRIM opened at $133.11 on Monday. The stock has a fifty day simple moving average of $147.42 and a two-hundred day simple moving average of $134.89. Primoris Services Co. has a 1-year low of $49.10 and a 1-year high of $174.43. 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 company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61.

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

Primoris Services Announces Dividend

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

Insider Transactions at Primoris Services

In related news, 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 value of $1,062,840.00. Following the sale, the director directly owned 74,466 shares in the company, valued at approximately $10,127,376. The trade was a 9.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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.