Royce & Associates LP Sells 61,955 Shares of Primoris Services Co. $PRIM

Royce & Associates LP cut its holdings in shares of Primoris Services Co. (NASDAQ:PRIM) by 30.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 139,320 shares of the construction company’s stock after selling 61,955 shares during the period. Royce & Associates LP owned 0.26% of Primoris Services worth $19,133,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. First Trust Advisors LP increased its holdings in shares of Primoris Services by 56.4% in the 2nd quarter. First Trust Advisors LP now owns 1,833,105 shares of the construction company’s stock valued at $142,872,000 after acquiring an additional 660,915 shares during the period. American Century Companies Inc. boosted its position in Primoris Services by 229.3% during the second quarter. American Century Companies Inc. now owns 601,482 shares of the construction company’s stock valued at $46,880,000 after purchasing an additional 418,805 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in Primoris Services in the third quarter valued at about $50,071,000. Westfield Capital Management Co. LP raised its holdings in Primoris Services by 44.8% in the third quarter. Westfield Capital Management Co. LP now owns 947,308 shares of the construction company’s stock worth $130,094,000 after purchasing an additional 293,085 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Primoris Services by 838.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 243,859 shares of the construction company’s stock worth $19,006,000 after purchasing an additional 217,873 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Price Performance

Shares of PRIM opened at $150.29 on Monday. The company has a market capitalization of $8.12 billion, a P/E ratio of 49.77 and a beta of 1.37. The business’s 50-day moving average is $146.07 and its two-hundred day moving average is $133.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. Primoris Services Co. has a fifty-two week low of $49.10 and a fifty-two week high of $174.43.

Primoris Services (NASDAQ:PRIM) last posted its earnings results on Monday, February 23rd. The construction company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.95 by $0.13. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.Primoris Services’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the company earned $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. Research analysts predict that Primoris Services Co. will post 3.26 earnings per share for the current year.

Primoris Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued 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 dividend payout ratio is 6.36%.

Insider Buying and Selling at Primoris Services

In other news, Director John P. Schauerman sold 7,815 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $136.00, for a total transaction of $1,062,840.00. Following the sale, the director directly owned 74,466 shares of the company’s stock, valued at $10,127,376. This represents a 9.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carla S. Mashinski sold 2,082 shares of Primoris Services stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $135.14, for a total value of $281,361.48. Following the completion of the transaction, the director owned 21,530 shares of the company’s stock, valued at approximately $2,909,564.20. This represents a 8.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PRIM has been the topic of a number of analyst reports. DA Davidson set a $180.00 price objective on shares of Primoris Services in a research report on Wednesday. Jefferies Financial Group restated a “buy” rating and issued a $161.00 target price on shares of Primoris Services in a research note on Wednesday, November 5th. UBS Group increased their price objective on Primoris Services from $165.00 to $176.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Mizuho boosted their target price on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. upped their target price on Primoris Services from $143.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $153.20.

Primoris Services Profile

Primoris Services Corporation is a diversified infrastructure construction company that provides a wide range of specialty contracting services across North America. The company’s operations span pipe fabrication, pipeline construction, mechanical and electrical installations, civil and structural work, and maintenance services. Primoris serves clients in the energy, utility, transportation, water and wastewater, and industrial markets, delivering turnkey solutions from design and engineering through construction and operations support.

Within its two primary business segments—Pipeline & Facility and Civil & Utility—Primoris offers pipeline installation, compressor station construction, pump station projects, and above-ground facility work.