WCM Investment Management LLC Acquires New Position in Primoris Services Corporation $PRIM

WCM Investment Management LLC bought a new position in Primoris Services Corporation (NYSE:PRIM) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 124,224 shares of the company’s stock, valued at approximately $16,696,000.

Other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. purchased a new position in Primoris Services during the fourth quarter worth approximately $33,000. Root Financial Partners LLC grew 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 acquiring an additional 69 shares during the period. Osterweis Capital Management Inc. acquired a new stake in Primoris Services during the second quarter worth about $34,000. Cullen Frost Bankers Inc. increased its stake in Primoris Services by 30.1% during 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 during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after purchasing an additional 194 shares during the period. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider John M. Perisich sold 29,707 shares of the company’s 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 completion of the sale, the insider directly owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. This represents a 51.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Lee King sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the director 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 SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by corporate insiders.

Primoris Services Stock Up 0.2%

Shares of NYSE:PRIM opened at $86.10 on Monday. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 18.96 and a beta of 1.41. Primoris Services Corporation has a 1-year low of $65.00 and a 1-year high of $205.50. The company’s fifty day moving average is $104.26 and its two-hundred day moving average is $133.28. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28.

Primoris Services (NYSE:PRIM) last posted 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 business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm posted $0.98 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities analysts anticipate that Primoris Services Corporation will post 1.88 EPS for the current year.

Primoris Services Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently issued reports on PRIM shares. Oppenheimer initiated coverage on shares of Primoris Services in a research report on Tuesday, July 7th. They set an “outperform” rating and a $135.00 target price for the company. Cantor Fitzgerald reduced their target price on shares of Primoris Services from $124.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, June 25th. Needham & Company LLC decreased their target price on Primoris Services from $188.00 to $172.00 and set a “buy” rating for the company in a research report on Monday, July 13th. KeyCorp reiterated a “sector weight” rating on shares of Primoris Services in a research note on Tuesday, June 23rd. Finally, Weiss Ratings downgraded shares of Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Primoris Services has a consensus rating of “Moderate Buy” and an average target price of $142.13.

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.