Private Advisor Group LLC Has $249,000 Position in Primoris Services Corporation $PRIM

Private Advisor Group LLC lowered its holdings in Primoris Services Corporation (NYSE:PRIM) by 85.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,738 shares of the company’s stock after selling 10,008 shares during the period. Private Advisor Group LLC’s holdings in Primoris Services were worth $249,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PRIM. Root Financial Partners LLC raised its position in Primoris Services by 43.1% during the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after buying an additional 69 shares during the period. Cullen Frost Bankers Inc. lifted its stake in Primoris Services by 30.1% in the 4th 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. Covestor Ltd boosted its position in Primoris Services by 13.4% during the 4th quarter. Covestor Ltd now owns 719 shares of the company’s stock worth $89,000 after acquiring an additional 85 shares during the period. CWM LLC boosted its position in Primoris Services by 1.1% during the 4th quarter. CWM LLC now owns 8,970 shares of the company’s stock worth $1,114,000 after acquiring an additional 96 shares during the period. Finally, IFP Advisors Inc grew its stake in Primoris Services by 18.6% during the 4th quarter. IFP Advisors Inc now owns 626 shares of the company’s stock valued at $78,000 after acquiring an additional 98 shares in the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Insider Activity at Primoris Services

In other Primoris Services news, Director David Lee King sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the sale, the director directly owned 14,941 shares of the company’s stock, valued at $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 27,574 shares in the company, valued at $3,525,611.64. This represents a 51.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Primoris Services Stock Up 0.2%

PRIM opened at $86.10 on Monday. Primoris Services Corporation has a fifty-two week low of $65.00 and a fifty-two week high of $205.50. The business has a 50-day moving average of $104.26 and a 200-day moving average of $133.28. 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 capitalization of $4.67 billion, a PE ratio of 18.96 and a beta of 1.41.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $0.98 EPS. The company’s quarterly 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. Equities research analysts forecast that Primoris Services Corporation will post 1.88 EPS for the current fiscal year.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.08 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Primoris Services’s payout ratio is 7.05%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PRIM. Needham & Company LLC dropped their target price on Primoris Services from $188.00 to $172.00 and set a “buy” rating on the stock in a report on Monday, July 13th. KeyCorp restated a “sector weight” rating on shares of Primoris Services in a report on Tuesday, June 23rd. Zacks Research downgraded shares of Primoris Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. The Goldman Sachs Group upgraded shares of Primoris Services from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $107.00 to $102.00 in a research note on Thursday, June 25th. Finally, Oppenheimer began coverage on shares of Primoris Services in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $135.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.13.

Primoris Services Profile

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.