David Lee King Sells 20,000 Shares of Primoris Services (NYSE:PRIM) Stock

Primoris Services Corporation (NYSE:PRIM) Director David Lee King sold 20,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the transaction, the director owned 14,941 shares in the company, valued at $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Primoris Services Stock Performance

NYSE:PRIM opened at $125.93 on Friday. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 27.74 and a beta of 1.50. The business has a 50 day moving average of $142.50 and a 200 day moving average of $139.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. Primoris Services Corporation has a 1-year low of $70.68 and a 1-year high of $205.50.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, sell-side analysts predict that Primoris Services Corporation will post 4.55 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. Primoris Services’s dividend payout ratio (DPR) is currently 7.05%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Zacks Research cut Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. KeyCorp lowered their target price on Primoris Services from $179.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Weiss Ratings cut Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. UBS Group decreased their price target on Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Wells Fargo & Company dropped their price objective on Primoris Services from $168.00 to $118.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.20.

Institutional Investors Weigh In On Primoris Services

Large investors have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new position in shares of Primoris Services in the 3rd quarter worth approximately $1,726,000. J.W. Cole Advisors Inc. bought a new stake in shares of Primoris Services during the third quarter valued at approximately $1,193,000. Nordea Investment Management AB bought a new stake in shares of Primoris Services during the fourth quarter valued at approximately $7,181,000. Leuthold Group LLC grew its stake in Primoris Services by 1,350.3% in the third quarter. Leuthold Group LLC now owns 48,947 shares of the company’s stock worth $6,722,000 after purchasing an additional 45,572 shares during the period. Finally, New York State Teachers Retirement System grew its stake in Primoris Services by 327.8% in the fourth quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock worth $2,594,000 after purchasing an additional 16,008 shares during the period. Institutional investors own 91.82% of the company’s stock.

Primoris Services Company Profile

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.