Brevan Howard Capital Management LP Has $2.78 Million Stock Position in Primoris Services Corporation $PRIM

Brevan Howard Capital Management LP lessened its position in Primoris Services Corporation (NYSE:PRIM) by 73.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 20,255 shares of the company’s stock after selling 54,988 shares during the period. Brevan Howard Capital Management LP’s holdings in Primoris Services were worth $2,782,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. raised its position in shares of Primoris Services by 224.2% during the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock worth $29,000 after purchasing an additional 148 shares during the period. Osterweis Capital Management Inc. acquired a new stake in Primoris Services in the 2nd quarter valued at $34,000. Blue Bell Private Wealth Management LLC acquired a new stake in Primoris Services in the 3rd quarter valued at $37,000. Cullen Frost Bankers Inc. bought a new stake in Primoris Services during the 3rd quarter valued at $37,000. Finally, McIlrath & Eck LLC increased its stake in Primoris Services by 109.8% during the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the company’s stock valued at $38,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.

Primoris Services Price Performance

Shares of PRIM stock opened at $141.59 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a 50-day moving average price of $148.43. Primoris Services Corporation has a one year low of $49.10 and a one year high of $174.43. The stock has a market capitalization of $7.65 billion, a P/E ratio of 28.15 and a beta of 1.36.

Primoris Services (NYSE:PRIM) last released its quarterly earnings results on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.13. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the company earned $1.13 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders 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 dividend yield of 0.2%. Primoris Services’s dividend payout ratio is currently 6.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PRIM shares. The Goldman Sachs Group raised their price objective on shares of Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a research note on Wednesday, January 28th. Weiss Ratings restated a “buy (b)” rating on shares of Primoris Services in a report on Tuesday, January 20th. JPMorgan Chase & Co. raised their price target on shares of Primoris Services from $143.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. DA Davidson set a $180.00 price target on Primoris Services in a research note on Wednesday, February 25th. Finally, Mizuho boosted their price objective on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Primoris Services has a consensus rating of “Moderate Buy” and a consensus price target of $153.20.

Primoris Services Company 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.