Bolthouse Investments LLC Sells 5,000 Shares of Primoris Services Co. $PRIM

Bolthouse Investments LLC lessened its stake in Primoris Services Co. (NASDAQ:PRIM) by 5.9% in the 3rd quarter, Holdings Channel reports. The firm owned 80,000 shares of the construction company’s stock after selling 5,000 shares during the period. Primoris Services comprises about 10.0% of Bolthouse Investments LLC’s portfolio, making the stock its 2nd largest holding. Bolthouse Investments LLC’s holdings in Primoris Services were worth $10,986,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. 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 construction company’s stock valued at $43,000 after buying an additional 194 shares during the period. Goldman Sachs Group Inc. increased its stake in Primoris Services by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the construction company’s stock worth $28,337,000 after purchasing an additional 33,934 shares during the period. Caxton Associates LLP purchased a new stake in Primoris Services during the first quarter worth about $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Primoris Services by 25.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the construction company’s stock worth $9,650,000 after purchasing an additional 33,818 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Primoris Services in the first quarter valued at approximately $964,000. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Stock Performance

Shares of Primoris Services stock opened at $137.84 on Thursday. The firm has a market capitalization of $7.45 billion, a P/E ratio of 45.64 and a beta of 1.36. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a 52 week low of $49.10 and a 52 week high of $146.16. The firm’s 50 day moving average is $126.66 and its two-hundred day moving average is $119.43.

Primoris Services (NASDAQ:PRIM) last issued its earnings results on Monday, November 3rd. The construction company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.51. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the business posted $1.22 EPS. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. Research analysts forecast that Primoris Services Co. will post 3.26 EPS for the current fiscal year.

Primoris Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Primoris Services’s payout ratio is presently 6.31%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Glj Research assumed coverage on shares of Primoris Services in a research note on Monday, September 22nd. They set a “buy” rating and a $160.00 target price on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $161.00 price objective on shares of Primoris Services in a research report on Wednesday, November 5th. Mizuho set a $129.00 price objective on Primoris Services in a research note on Tuesday, October 28th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $143.00 target price (down from $145.00) on shares of Primoris Services in a research note on Monday, December 8th. Finally, The Goldman Sachs Group started coverage on Primoris Services in a research report on Monday, November 24th. They issued a “sell” rating and a $117.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.71.

Insider Transactions at Primoris Services

In other news, Director Patricia K. Wagner sold 13,491 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $125.23, for a total transaction of $1,689,477.93. Following the transaction, the director directly owned 4,495 shares in the company, valued at approximately $562,908.85. This trade represents a 75.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carla S. Mashinski sold 2,082 shares of Primoris Services stock in a transaction on Monday, December 8th. The shares were sold at an average price of $135.14, for a total transaction of $281,361.48. Following the completion of the transaction, the director directly owned 21,530 shares in the company, valued at $2,909,564.20. The trade was a 8.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 26,888 shares of company stock valued at $3,488,679 in the last 90 days. Company insiders own 1.40% of the company’s stock.

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.