Primoris Services Corporation $PRIM Shares Sold by Horizons Wealth Management

Horizons Wealth Management trimmed its stake in shares of Primoris Services Corporation (NYSE:PRIM) by 57.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,976 shares of the company’s stock after selling 5,362 shares during the period. Horizons Wealth Management’s holdings in Primoris Services were worth $494,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

PRIM has been the subject of several recent research reports. DA Davidson set a $180.00 price objective on Primoris Services in a research note on Wednesday, February 25th. JPMorgan Chase & Co. upped their target price on shares of Primoris Services from $143.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Mizuho increased their target price on shares of Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group raised their price target on shares of Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. Finally, UBS Group boosted their price target on shares of Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $153.20.

Primoris Services Stock Up 3.7%

Shares of NYSE:PRIM opened at $143.40 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average of $149.22. The stock has a market cap of $7.75 billion, a PE ratio of 28.51 and a beta of 1.36. Primoris Services Corporation has a 52-week low of $49.10 and a 52-week high of $174.43.

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

Primoris Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Primoris Services’s payout ratio is 6.36%.

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.