A. D. Beadell Investment Counsel Inc. Sells 4,860 Shares of Primoris Services Corporation $PRIM

A. D. Beadell Investment Counsel Inc. reduced its stake in Primoris Services Corporation (NYSE:PRIM) by 7.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 61,060 shares of the company’s stock after selling 4,860 shares during the quarter. Primoris Services accounts for 4.9% of A. D. Beadell Investment Counsel Inc.’s investment portfolio, making the stock its 3rd largest position. A. D. Beadell Investment Counsel Inc.’s holdings in Primoris Services were worth $7,579,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new position in shares of Primoris Services in the third quarter valued at approximately $1,726,000. J.W. Cole Advisors Inc. acquired a new stake in Primoris Services during the 3rd quarter worth approximately $1,193,000. Federated Hermes Inc. raised its stake in shares of Primoris Services by 5.8% in the second quarter. Federated Hermes Inc. now owns 347,785 shares of the company’s stock valued at $27,106,000 after acquiring an additional 18,951 shares in the last quarter. Leuthold Group LLC boosted its holdings in Primoris Services by 1,350.3% in the third quarter. Leuthold Group LLC now owns 48,947 shares of the company’s stock valued at $6,722,000 after purchasing an additional 45,572 shares during the period. Finally, Boston Partners boosted its holdings in Primoris Services by 14.1% in the second quarter. Boston Partners now owns 564,898 shares of the company’s stock valued at $47,823,000 after purchasing an additional 69,996 shares during the period. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Trading Up 2.2%

NYSE PRIM opened at $143.67 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.26 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $149.73. The firm has a market cap of $7.79 billion, a PE ratio of 28.56 and a beta of 1.36. Primoris Services Corporation has a 12-month low of $49.10 and a 12-month high of $174.43.

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

Primoris Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.08 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. Primoris Services’s dividend payout ratio (DPR) is 6.36%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Primoris Services in a report on Tuesday, January 20th. Guggenheim raised their target price on shares of Primoris Services from $160.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. DA Davidson set a $180.00 price objective on shares of Primoris Services in a report on Wednesday, February 25th. Wells Fargo & Company increased their price objective on Primoris Services from $138.00 to $168.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. Finally, Cantor Fitzgerald set a $160.00 target price on Primoris Services and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $153.20.

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.