Primoris Services (NYSE:PRIM) Insider John Perisich Sells 29,707 Shares

Primoris Services Corporation (NYSE:PRIM) insider John Perisich sold 29,707 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the completion of the transaction, the insider directly owned 27,574 shares of the company’s stock, valued at $3,525,611.64. The trade was a 51.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Primoris Services Trading Down 0.5%

NYSE PRIM opened at $125.93 on Friday. Primoris Services Corporation has a 12 month low of $70.68 and a 12 month high of $205.50. The company has a 50-day moving average of $142.50 and a 200-day moving average of $139.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $6.83 billion, a P/E ratio of 27.74 and a beta of 1.50.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company earned $0.98 EPS. The company’s revenue 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. As a group, equities analysts predict that Primoris Services Corporation will post 4.55 earnings per share for the current year.

Primoris Services Announces Dividend

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

Wall Street Analysts Forecast Growth

PRIM has been the subject of a number of analyst reports. DA Davidson set a $180.00 price target on Primoris Services in a report on Wednesday, February 25th. Guggenheim upped their price target on Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Wolfe Research initiated coverage on Primoris Services in a report on Thursday, April 9th. They issued an “outperform” rating and a $183.00 price target for the company. Mizuho upgraded Primoris Services from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $175.00 to $135.00 in a report on Monday, May 11th. Finally, UBS Group decreased their price target on Primoris Services from $212.00 to $186.00 and set a “buy” rating for the company in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.20.

Institutional Investors Weigh In On Primoris Services

Institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its position in shares of Primoris Services by 224.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock valued at $29,000 after acquiring an additional 148 shares in the last quarter. Harbour Investments Inc. acquired a new stake in shares of Primoris Services during the 4th quarter valued at approximately $33,000. Root Financial Partners LLC raised its position in shares of Primoris Services by 43.1% during the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of Primoris Services during the 2nd quarter valued at approximately $34,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Primoris Services during the 3rd quarter valued at approximately $37,000. 91.82% of the stock is owned by institutional investors and hedge funds.

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.