Primoris Services Corporation $PRIM Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. decreased its position in shares of Primoris Services Corporation (NYSE:PRIM) by 18.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,000 shares of the company’s stock after selling 7,100 shares during the period. Hodges Capital Management Inc. owned 0.06% of Primoris Services worth $3,972,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. increased its position 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 buying an additional 81 shares during the period. Assetmark Inc. increased its position in Primoris Services by 9.7% during the third quarter. Assetmark Inc. now owns 953 shares of the company’s stock worth $131,000 after buying an additional 84 shares during the period. Covestor Ltd increased its position in Primoris Services by 13.4% during the fourth quarter. Covestor Ltd now owns 719 shares of the company’s stock worth $89,000 after buying an additional 85 shares during the period. CWM LLC increased its position in Primoris Services by 1.1% during the fourth quarter. CWM LLC now owns 8,970 shares of the company’s stock worth $1,114,000 after buying an additional 96 shares during the period. Finally, IFP Advisors Inc increased its position in Primoris Services by 18.6% during the fourth quarter. IFP Advisors Inc now owns 626 shares of the company’s stock worth $78,000 after buying an additional 98 shares during the period. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services Trading Down 9.7%

NYSE:PRIM opened at $93.87 on Thursday. The firm has a market cap of $5.09 billion, a P/E ratio of 20.68 and a beta of 1.36. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock’s 50 day simple moving average is $138.54 and its 200-day simple moving average is $139.71. Primoris Services Corporation has a 12-month low of $71.84 and a 12-month high of $205.50.

Primoris Services (NYSE:PRIM) last released its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities analysts anticipate that Primoris Services Corporation will post 4.55 EPS for the current year.

Primoris Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.08 dividend. 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 7.05%.

Insider Buying and Selling

In related news, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the sale, the insider directly owned 27,574 shares in the company, valued at $3,525,611.64. The trade was a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Lee King sold 20,000 shares of Primoris Services 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 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. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on PRIM shares. Zacks Research lowered Primoris Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Needham & Company LLC cut their price target on Primoris Services from $205.00 to $188.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wall Street Zen lowered Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Guggenheim boosted their target price on Primoris Services from $184.00 to $195.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Mizuho raised Primoris Services from a “neutral” rating to an “outperform” rating and dropped their target price for the company from $175.00 to $135.00 in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $156.20.

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.