Phocas Financial Corp. Sells 77,087 Shares of Primoris Services Corporation $PRIM

Phocas Financial Corp. trimmed its position in Primoris Services Corporation (NYSE:PRIM) by 55.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,478 shares of the company’s stock after selling 77,087 shares during the period. Phocas Financial Corp.’s holdings in Primoris Services were worth $7,756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. increased its stake in Primoris Services by 69.6% in the third quarter. American Century Companies Inc. now owns 1,019,856 shares of the company’s stock valued at $140,057,000 after purchasing an additional 418,374 shares in the last quarter. Wellington Management Group LLP raised its holdings in Primoris Services by 136.0% in the third quarter. Wellington Management Group LLP now owns 663,985 shares of the company’s stock worth $91,185,000 after purchasing an additional 382,597 shares during the period. Hennessy Advisors Inc. bought a new position in shares of Primoris Services during the third quarter worth $50,071,000. Mackenzie Financial Corp grew its holdings in shares of Primoris Services by 1,093.2% in the 3rd quarter. Mackenzie Financial Corp now owns 380,340 shares of the company’s stock valued at $52,232,000 after buying an additional 348,465 shares during the period. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Primoris Services by 44.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 947,308 shares of the company’s stock valued at $130,094,000 after buying an additional 293,085 shares during the period. Institutional investors own 91.82% of the company’s stock.

Primoris Services Price Performance

PRIM stock opened at $148.23 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $8.04 billion, a PE ratio of 29.47 and a beta of 1.38. Primoris Services Corporation has a fifty-two week low of $49.10 and a fifty-two week high of $174.43. The stock’s 50-day moving average price is $149.31.

Primoris Services (NYSE:PRIM) last released its earnings results on Monday, February 23rd. The company reported $1.08 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the business posted $1.13 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Dividend Announcement

The firm also recently announced 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 is Tuesday, March 31st. This represents a $0.32 annualized dividend and a yield of 0.2%. Primoris Services’s dividend payout ratio is presently 6.36%.

Analyst Ratings Changes

PRIM has been the topic of a number of research analyst reports. Zacks Research lowered Primoris Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Guggenheim boosted their price objective on Primoris Services from $170.00 to $184.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. DA Davidson set a $180.00 target price on shares of Primoris Services in a report on Wednesday, February 25th. UBS Group lifted their price target on shares of Primoris Services from $165.00 to $176.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Mizuho upped their price target on shares of Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $154.53.

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.