Primoris Services Co. $PRIM Shares Sold by Fieldview Capital Management LLC

Fieldview Capital Management LLC lowered its holdings in Primoris Services Co. (NASDAQ:PRIM) by 45.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,362 shares of the construction company’s stock after selling 19,514 shares during the quarter. Fieldview Capital Management LLC’s holdings in Primoris Services were worth $3,208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its holdings in Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the construction company’s stock worth $43,000 after acquiring an additional 194 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Primoris Services by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the construction company’s stock valued at $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 $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 valued at $9,650,000 after buying an additional 33,818 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Primoris Services by 2.5% during the second quarter. Envestnet Asset Management Inc. now owns 46,353 shares of the construction company’s stock valued at $3,613,000 after buying an additional 1,123 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Stock Down 3.5%

Shares of NASDAQ PRIM opened at $133.11 on Monday. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 44.08 and a beta of 1.36. The company’s 50-day simple moving average is $147.42 and its 200-day simple moving average is $134.89. 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 $174.43.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, February 23rd. The construction company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.13. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 EPS. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. Equities analysts predict 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 Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 31st. Primoris Services’s dividend payout ratio (DPR) is 6.36%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PRIM. Mizuho upped their price objective on shares of Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Wells Fargo & Company raised their target price on Primoris Services from $138.00 to $168.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. DA Davidson set a $180.00 price target on Primoris Services in a report on Wednesday, February 25th. Cantor Fitzgerald set a $160.00 price target on Primoris Services and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Finally, The Goldman Sachs Group raised their price objective on Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $153.20.

Insider Buying and Selling at Primoris Services

In other news, Director John P. Schauerman sold 7,815 shares of Primoris Services stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $136.00, for a total value 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. The trade was a 9.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by company insiders.

Primoris Services Company 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.